Timis Area is a producing conventional oil field located onshore Romania and is operated by OMV Petrom. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block E V-3 Banat Est, E X-9 Paulis, and E X-11 Buzias. Buy the profile here.
Field participation details
The field is owned by OMV.
Production from Timis Area
The Timis Area conventional oil field recovered 51.13% of its total recoverable reserves, with peak production in 2014. The peak production was approximately 2.60 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2088. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 6.78 Mmboe, comprised of 6.78 Mmbbl of crude oil & condensate.
About OMV Petrom
OMV Petrom SA (OMV Petrom), a subsidiary of OMV AG, is an integrated energy Southeastern Europe. It explores, develops and produces crude oil and natural gas. The company processes and refines crude oil and sells refined products. Its petroleum products include gasoline, diesel, kerosene, jet fuel, heavy fuel oil, liquefied petroleum gas, petroleum coke and others. It is a reliable power supplier to more than 800 companies in Romania and extends its services to Hungary and Bulgaria. The company serves transportation, agriculture, construction, public and civil authorities, aviation, natural gas and business sectors. The group is present in the oil products retail market through a network of filling stations across Romania, Moldova, Bulgaria and Serbia. OMV Petrom is headquartered in Bucharest, Romania.
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