Serbian oil company NIS Thursday said it has commissioned Hungary 's Acoustic Geophysical Services (AGS) to conduct seismic surveys at the Tria concession block in western Romania , news agency Mediafax reported.

NIS , which is majority-owned by Russia 's Gazprom, said data from the 2D and 3D seismic surveys at the Tria block will be used to identify possible structures for drilling of exploratory wells and potential oil and gas reserves.

"All field works are aimed at searching and exploring for traditional oil and gas reserves and will be conducted using globally recognized technologies in accordance with the Romanian law and industry rules and regulations," the Serbian company said.

Drilling of the first exploratory well at the Tria block is expected to start at the beginning of 2014, with at least two more wells to be drilled by the end of the year.

"Total investment will amount to approximately EUR21.2 million at this project implementation phase," the company said.

In 2011, NIS and Canadian-based East West Petroleum signed an agreement to explore for oil at four blocks in western Romania , in Tria, Baile Felix, Periam, and Biled localities.

Geologic exploration at the other three blocks will start once final regulatory ratification is received from the Romanian authorities, NIS said.

Διαβάστε ακόμα