OMV Petrom discovers new gas deposit in Valcea County

OMV Petrom has discovered new gas resources in the immediate vicinity of the existing infrastructure in Valcea County. The probe drilled near the Mamu deposit, which entered production at the end of October, with an initial volume of over 190,000 cubic meters/day (about 1,100 boe/day), according to the company.

The drilling investments and the connection of the Mamu 4317 well to the existing infrastructure amounted to approximately EUR 10 million.

”Most gas fields in Romania entered production decades ago, they are mature and their production is declining. OMV Petrom continues to invest in exploration and production activities to limit this decline and ensure supply security. In the first ten months of the year, we increased our investment by more than 40 percent over the same period last year and we plowed 89 new wells and sidetracks, which add to the EUR 9 billion already invested in Upstream in Romania, between 2005 and 2017,” said Peter Zeilinger, OMV Petrom’s head of Upstream.

The Mamu deposit has been in production since 1980, but continues to be one of the largest production fields in OMV Petrom’s portfolio. Its current production is about 4,500 boe/day. If it were only used for heating, the annual production of the Mamu reservoir could provide heating for approximately 180,000 dwellings.

OMV Petrom is the largest energy company in South East Europe with an annual oil and gas output of about 61 million boe in 2017. The Group has a refining capacity of 4.5 million tons a year and operates a power plant with a high efficiency of 860 MW. On the petroleum distribution market, the Group is present in Romania and its neighboring countries through 789 gas stations at the end of September 2018, under two brands – OMV and Petrom.