Romgaz announces a new hydrocarbon discovery on the Romanian territory in block RG.06 Muntenia Nord-Est, where it performs petroleum operations.

The production tests completed at two exploration wells, Damianca 55 and 77 Rosetti, confirm an important hydrocarbon accumulation in Jurassic calcareous reservoirs on a 120m interval at a depth of over 4000. The results of the flow tests (DST) through 7mm and 9mm chokes predict a daily production between 1400 and 2200 boe/well. The contingent resource, evaluated based on drilling data such as well geophysics, cores, fluids and size of the trap according to 3D seismic, is estimated to be between 150 and 170 million boe.

Exploration works will be carried out in accordance with the set schedule and include development plans to stream into production the new wells, Dumitru Rotar, Deputy Director General, Exploration and Production, Romgaz, said in a press release. “The results paid by the two wells confirm the correctness of our decision to use 3D seismic in the phase of exploration of high depth geological units. The productivity of the entire structural unit increases considerably following these results and provides the perspective for new significant discoveries in the next period”, he added.

The discovery is located in the north eastern part of the Moesian Platform in Caragele structure. The 35 km long Caragele structure has been explored for production units located at depths between 1500 and 5000m, as part of the company’s major exploration projects.

“Under an increasing competition for access to resources, our strategy aims at consolidating the position of the company on the profile market by identifying new increase and diversification opportunities and by improving company performance”, Virgil Metea director general Romgaz said.