Mazarine Energy will continue investments in Romanian oil fields

Mazarine Energy, an oil company specialized in exploiting mature oil fields in Romania, estimates the country’s oil reserves at more than one billion barrels and remains interested in more investments, the company’s manager Spencer Coca said on February 20 at the ZF Power Summit energy conference.

Mazarine is part of Washington-based Carlyle Group, as well as Black Sea Oil and Gas (BSOG), which operates an offshore perimeter in Romania’s Black Sea and expressed this month moderate optimism about its further investments.

“We have 28 perimeters at this time. We want to grow in the onshore region, and we are not going to go to the off-shore area, because sister-company Black Sea Oil & Gas is doing this. Our goal is to become the largest independent onshore producer in Romania,” said Coca at the conference, according to Economica.net.

Mazarine reached in October 2018 an agreement for the takeover of nine onshore oil and gas fields in Romania from OMV Petrom. The deal follows the successful transfer of another 19 onshore oil and gas fields from OMV Petrom in August 2017.

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