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Natural Gas

Apr 27th 2015 at 3:21 AM

Romgaz completed this month experimental work necessary for the operation of two new natural gas accumulations discovered in the Moldavian Platform and the Transylvanian Basin, across localities Ash (Suceava) and Cris (judeţuş Mures). The ash borer, drilled to a depth of 4,100 meters, is in the exploration, development and mining Moldova RG 04 North, an area where Romgaz extract natural gas since 1972.

This drilling was completed in January 2015 was revealed a gas-condensate reservoir which is currently ongoing development program, said in a statement. Probe from Cris (common Danes, Mures County) is performed at a depth of 2,600 meters and is in the area RG 03 South Transylvania, where there are some of the oldest natural gas deposits in Romania. The discovery, made in January 2014 has identified a new natural gas deposit, which currently takes place drilling more wells, which will allow the assessment and development of its full quote reads the document.

Daily production achieved by these two new wells is over 2,600 boe per day, or approximately 3% of the daily production of natural gas Romgaz. Both fields are part of that means conventional hydrocarbon reservoirs. "In recent years, one of the most important objectives of management Romgaz has been and continues to be increasing portfolio of resources and gas reserves, the discovery of new reservoirs and developing and improving recovery of resources already discovered," said deputy general manager Romgaz responsible for exploration and production, Dumitru Rotar. To this end, Rotar says the company has allocated resources for the rehabilitation and modernization growth of existing facilities and for new investment in exploration and exploitation particular. Thus, in 2014, Romgaz of 1.0855 billion lei invested in the exploration and exploitation expenditures represented about 54%.

"Canceling the decline of production in the last 4 years confirms the existing potential in exploration perimeters and those in development phase harvesters and encourage us to pursue further work's potential. Next, we focus on finding solutions for both productivity growth and the degree of recovery of old deposits and for the discovery of new oil and gas fields ", said deputy general manager of Romgaz. Natural gas producer Romgaz, controlled by the Romanian state last year had a turnover of 4.49 billion, an increase of 15.4% compared to 2013 and a profit of 1.43 billion, increasing 44%, indicating the company's preliminary annual report. Last year, Romgaz produced 5.66 billion cubic meters of natural gas and have, on September 30, according to ANRE, a share of 47.4% of sales gas from domestic production. In 2014, the company continued to strengthen the operations of oil production levels.

This exploration has identified prospective resources of about 2 billion cubic meters and contingent resources confirmed about 5 billion. Mc. Also Romgaz 3D seismic surveys conducted on an area of 1,200 square kilometers and have started drilling the first well in the Black Sea Rhapsody perimeter.

With regard to operating activities Romgaz were repaired a number of 175 wells were connected to the national transmission system operation and 12 new wells were put into four experimental exploitation of natural gas discoveries (Armeni, Jibert, Mecea and the East Caragele blocks north and west) by seven new wells. In this way, we managed to achieve a reserve replacement rate of about 90% Romgaz states.

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