Romgaz announced the start of production in the deep area of the Caragele structure, through the 77 Rosetti well, with a daily production potential of over 1,500 barrels of oil equivalent (boe). At the same time, Romgaz has intensified exploitation in the medium depth area of the Caragele structure, by introducing into production two new wells, with an average daily flow of over 1,000 boe. The three tests led to an increase in daily production by about 30%, which led to an increase in Romgaz’ total production by 1.4%, in January.

Adrian Volintiru, general director of Romgaz, announced, in a press release, that the exploration and development works in this area will continue “at a sustained pace, for the potential increase of the volume of the estimated resource, as well as for its exploitation”. “This result rewards the special effort of the company in the last period of time, to explore at great depth, under difficult conditions of high risk, but with the prospect of confirming important accumulations of hydrocarbons, in the perimeters under concession,” Volintiru said.

Romgaz SA conducts operations of oil exploration, development, exploitation in eight perimeters on the Romanian territory and has as main objective the continuation of the exploration works for the identification of new hydrocarbon resources. In 2016, the company identified an important discovery in the north-eastern sector of the Moesian Platform, within the Caragele structural ensemble, at depths of over 4,000 meters. The discovery required a specific period of complex geological assessment of hydrocarbon accumulation, as well as the design and preparation of development works that allowed production to begin.