The Romanian integrated oil company OMV Petrom has discovered crude oil and natural gas resources in the Oltenia and Muntenia regions of southern Romania. The newly discovered deposit holds more than 30 million barrels of oil equivalent of recoverable resources, equivalent to the company's production for three quarters of 2022.

OMV Petrom said all discoveries are the result of its exploration strategy, which focuses on near-field opportunities close to existing infrastructure. The company said the strategy enables rapid development, bundling and early production of newly discovered crude oil and natural gas resources.

Between June 2022 and April this year, the company invested approximately €20 million in exploration drilling activities and the testing of three Wells. Cristian Hubati, member of the Executive Board of OMV Petrom, responsible for exploration and production activities, said that Romania has been producing crude oil and gas for more than 150 years, and in this case, identifying new resources requires a huge effort. The new discoveries will help reduce the decline in our production and contribute to the continuity of the supply of essential products for the economy.

OMV Petrom has made a discovery in the Verguleasa exploration area in the Oltenia region, where it has identified crude oil resources totaling approximately 20mmboe. The company made another discovery in the Targovi R te exploration block, where the discovered crude oil resource was estimated at 6mmboe.

In April 2023, OMV Petrom was tested at the well, which is currently being prepared for pre-production work. The company made its third discovery at the Targu Jiu exploration block, where it has identified 7mmboe of natural gas resources.

In addition, Integrated Petroleum said that another follow-up well has been planned for 2024 and is currently being prepared for tie-in. OMV Petrom is a major integrated energy company in Southeast Europe with annual hydrocarbon production of approximately 43mmboe in 2022.Editor/XingWentao