Romanian oil and gas groupOMV Petrom [BSE:SNP] said on Wednesday it has
discovered anew oil and gas field in the southeastern county ofBuzauin
partnership with Hunt Oil Company of Romania, following investments worth 5.0
million euro ($6.2 million).
Estimates from production tests indicate a
potential production per well of 1,200 – 2,100 barrels of oil equivalent
(boe)per day from two geological layers,OMV Petrom said in a statement filed
with the Bucharest Stock Exchange.
The field was discovered in Perimeter
VIII Urziceni Est by drilling the exploration well Padina Nord 1, at a depth of
over 2,500 meters,about7-12 kilometresaway from mature fields, which are in
production for more than 50 years.
“It is potentially the largest
discovery in the past 30 years in the Muntenia region,"Gabriel Selischi, member
of OMV Petrom Executive Board, responsible for Exploration and Production, said
in the statement.
"This year, we have made the largest exploration
investments since privatization. It is important to continue exploration
activities, as 90% of fields we are operating are mature ones and reached their
production peak years ago," he added.
The two companies will continue
testing operations to determine the production potential of the discovery and
will be acquiring seismic data in the region.
The discovery was made
within the onshore exploration partnership closed in 2010 by OMV Petrom and Hunt
Oil, whichtargets the exploration of two onshore perimeters: I Adjud and VIII
Urziceni Est, the operator being Hunt Oil.
OMV Petrom, the largest oil
and gas group in southeastern Europe,supplies about 40% of Romania’s oil and
gas demand.