Polish-controlled operator Serinus starts gas production in Romania

Polish oil and gas company Serinus Energy, controlled by an investment fund set up by Polish billionaire Jan Kulczyk, announced that production has commenced at the Moftinu Gas Plant in Romania on April 26. The plant began processing natural gas from the Moftinu 1003 production well for sale, according to a company statement.

Serinus announced that it would follow a conventional start-up program whereby production parameters and plant performance will be stabilized, after which gas from the Moftinu 1007 well will be also be brought onto production and flowed through the gas plant.

"This is an extremely important milestone for Serinus. Gas production, plant operation and the resulting sales of processed gas will be transformative for Serinus and the Moftinu region," said Serinus Energy general manager Jeffrey Auld, quoted by local Profit.ro.

The Moftinu discovery is a shallow-gas multi-zone field discovered by Serinus in 2014. Five unsuccessful legacy wells had been previously drilled on and around the structure during the 1970s, but it wasn’t until the acquisition of 3D seismic data in 2012 that the structure and target reservoirs were properly defined, primarily through the use of direct hydrocarbon indicators from seismic amplitudes. The 3D seismic program of 2012 was instrumental in accurately defining and de-risking the traps of the Moftinu discovery.

Serinus operates Satu Mare's hydrocarbon concession through its subsidiary Serinus Energy Romania (formerly Winstar Satu Mare), where it has identified recoverable reserves of approximately 510 million cubic meters of natural gas, equivalent to about 4% of Romania's annual consumption.

Serinus Energy is controlled by Kulczyk Investments, an investment fund set up by former Polish billionaire Jan Kulczyk, who died in 2015. His son Sebastian currently runs Kulczyk Investments.

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