BUCHAREST, ROMANIA: OMV Petrom, the largest integrated energy company in Southeast Europe, has made significant discoveries of crude oil and natural gas resources in the Oltenia and Muntenia regions of southern Romania.

The newly discovered deposits hold over 30 million barrels of oil equivalent (boe) of recoverable resources, representing a substantial addition to OMV Petrom’s reserves.

The exploration drilling and testing of three wells took place between June 2022 and April 2023, with an investment of approximately EUR 20 million in the exploration drilling campaign.

Cristian Hubati, a member of the OMV Petrom Executive Board responsible for Exploration and Production activities, highlighted the importance of these discoveries for Romania’s energy sector. “Romania has a long history of crude oil and natural gas production, and finding new resources requires significant effort. These new discoveries will contribute to reducing production decline and ensure a steady supply of essential products for the economy,” said Hubati.

Among the discoveries made by OMV Petrom is a significant crude oil deposit in the Verguleasa exploration area, located in the Oltenia region. The company has identified crude oil resources totaling around 20 million boe, marking OMV Petrom’s largest crude oil discovery in decades. The proximity of the discovery to another production area will offer synergies and enable a faster start of production.

In the Târgoviște exploration block, OMV Petrom made another notable crude oil discovery, estimating resources of approximately 6 million boe. Successful testing was conducted in April 2023, and preparations for pre-exploitation work are already underway.

The third significant discovery occurred in the Târgu Jiu exploration block, where natural gas resources of 7 million boe were identified. This amount is equivalent to nearly one-third of Romania’s natural gas production in 2022. OMV Petrom plans to drill a follow-up well next year and is currently preparing for the tie-in process.

These discoveries are the result of OMV Petrom’s exploration strategy, which focuses on near-field opportunities in close proximity to existing infrastructure. This approach facilitates rapid development, efficient tie-ins, and early production of newly found resources.

The newly discovered crude oil and natural gas resources are expected to bolster OMV Petrom’s production levels and enhance Romania’s energy sector, ensuring a reliable supply of energy products for the country’s economy.

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