OMV Petrom discovers new onshore gas resources in Southern Romania

OMV Petrom, the biggest energy company in Romania, announced a new onshore gas discovery in Valcea county, in Southern Romania. The company drilled a new well near its existing Mamu field, at a depth of 4,400 meters, where it found gas and condensate. The new well already went into production in late October, extracting more than 190,000 cubic meters of gas per day, according to the company. The investment for drilling the new well and connecting it to the existing infrastructure amounted to EUR 10 million. “The majority of the gas fields in Romania started producing decades ago, they are mature and the production is declining. OMV Petrom continues to invest in exploration and production activities to mitigate this decline and to ensure security of energy supply. In the first 10 months of this year, we have ramped up investment by more than 40% compared with the same period of last year and we drilled 89 new wells and sidetracks,” said Peter Zeilinger, OMV Petrom Executive Board member responsible for Upstream. The Mamu field, which has been producing since 1980, continues to be one of the top producing fields for OMV Petrom. If used only for heating, the annual gas production from Mamu field could heat around 180,000 households. OMV Petrom sees 44% higher net profit in first nine months editor@romania-insider.com