Petrom consolidates regional partnerships in the natural gas exploration and exploitation sector

By Jerom Bolt
Romanian company Petrom and the Ukrainians from Naftogaz have signed a memorandum of understanding to identify joint gas exploration and production projects in Ukraine, according to a Naftogaz statement posted on the Ukrainian company’s website.
“Last year, Naftogaz worked to identify new opportunities for exploration and development of new gas perimeters in Ukraine. With the licensing of the Yuzivska perimeter in the Black Sea, which has great potential, as well as the potential in western Ukraine, Naftogaz is now accelerating its investment plans, “said Otto Waterlander, the company’s chief operating officer.
Naftogaz aims to attract experienced international partners to these plans, so that Ukraine can become independent by 2030 in terms of gas consumption.
“We believe that Petrom is a valuable and renowned partner, which will bring additional investment capacity, expertise and relevant experience in the region. The company discovered the promising Black Sea block Neptune, has experience and know-how in offshore drilling and has a successful track record in exploiting onshore resources in the Romanian Carpathians region, which have the same geological history as the Ukrainian Carpathians. We see a great potential for collaboration in these areas and we look forward to establishing the next concrete steps of collaboration for the near future “, the Naftogaz official added.
The two companies will begin analyzing opportunities for cooperation in offshore blocks in Ukrainian Black Sea waters.
According to a government resolution, Naftogaz has already applied for 36 special agreements for the exploration of these perimeters.
“Our strategy is to expand our activities in the Black Sea region. Ukraine is a natural step to address the opportunities in this area, given that this country has great potential for gas production. We are excited to start looking for ways to collaborate with Nafttogaz and focus on effective cooperation, with benefits for both parties, so that these opportunities can move forward, “said Christopher Veit, a member of Petrom’s board of directors responsible for upstream activity.
Contacted following this announcement, OMV Petrom representatives told Agerpres: “Our strategy is to expand our Upstream activities in the Black Sea region, which we believe has an encouraging potential for hydrocarbons. Last year, we expanded into Bulgaria’s offshore area and are about to expand into Georgia, so Ukraine is a natural step in assessing opportunities in the area. “