Romania’s largest oil and gas firm, Petrom, said yesterday it had discovered a gas field near the eastern town of Focsani that could produce 130,000 cubic meters a day.
Petrom, majority owned by Austria’s OMV, said it also expected output of some 11 tons of condensate a day. “We intend to start the development of this new field as soon as possible. We think it is possible to start production at end-2007 or the beginning of 2008,” Werner Ladwein, a member of Petrom’s executive board, said in a statement.
Petrom reported natural gas output of 5.92 billion cubic meters and produced about 4.78 million tons of crude and gas condensate in 2006. The company said it would continue to search for new gas fields in the area. It plans to invest 100 million euros per year until 2010 in exploration.
(Reuters, 14/05/2007)