A new step towards energy independence: Romgaz increases daily natural gas production by approximately 30%

By Jerom Bolt
Romania consolidates its leading position in Central and Eastern Europe with regard to oil production. To this both companies with foreign capital and companies with domestic capital contribute. One of the most powerful gas exploration and extraction companies is Romgaz S.A.
Today, Romgaz announces the start of production in the deep area of the Caragele structure (south-east of Romania), through the 77 Rosetti well, with a daily production potential of over 1500 boes. In 2016 Romgaz identified an important discovery in the north-east sector of the Moesian Platform, within the Caragele structural ensemble, at depths of over 4000 m, this probe confirming the discovery announced initially. The discovery required the specific period of complex geological assessment of hydrocarbon accumulation, as well as the design and preparation of development works that would allow production to begin. The new deposit, with estimated reserves of nearly 30 billion cubic meters and exploitable of 27 billion cubic meters, it is under another, smaller one, which is already in operation for 10 years. Government officials at that time were talking about ensuring Romania’s energy independence or transforming the country into a natural gas exporter.
Adrian Volintiru, the General Manager of Romgaz said: “This result rewards the special effort of the company in the last period of time, to explore at great depth, difficult conditions of high risk, but with the prospect of confirming important accumulations of hydrocarbons, in the perimeters. in concession. The exploration and development works in this area will continue at a sustained pace, for the potential increase of the volume of the estimated resource, as well as for its valorization. At the same time, Romgaz has intensified the exploitation in the medium depth area of the Caragele structure, by introducing into production two new wells, with an average daily flow of over 1000 buoys ”.
The three wells offer a new perspective to the Caragele structure, by increasing daily production by about 30%, which has led to an increase of the total production of the Company by 1.4% in January.
SNGN Romgaz SA conducts oil exploration, development, exploitation operations in eight perimeters on the Romanian territory and has as main objective the continuation of the exploration works for the identification of new hydrocarbon resources.
S.N.G.N. Romgaz S.A. is the largest producer and main supplier of natural gas in Romania. The company is admitted to trading on the Bucharest Stock Exchange (BVB) and the London Stock Exchange (LSE) market. The main shareholder is the Romanian state with a 70% stake. The company has extensive experience in the field of natural gas exploration and production, its history beginning more than 100 years ago, in 1909. ROMGAZ is conducting geological exploration in order to discover new gas deposits, producing methane gas by exploiting the deposits in the company’s portfolio. , underground deposits natural gas, performs interventions, capital repairs and special operations at wells and provides professional technological transport services. In 2013 Romgaz expanded its activity by assimilating the thermal power plant from Iernut, thus becoming a producer and electricity supplier.