South-eastern Europe oil and gas producer OMV Petrom has begun experimental gas production from the Padina field by partnering with Romanian-based Hunt Oil Company.
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Discovered in 2014, the Padina field is located in the Southern Buzau County.
The production commenced from the Padina North 1 well, which was drilled in 2014.
The partners also built various production facilities at the location, including gas treatment, gas measurement systems and pipelines that connects it to the national transport system and liquid products storage facilities.
OMV Petrom and Hunt Oil have invested nearly €17m in this Padina North 1 project within 2014-2016.
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By GlobalDataThe production facilities at the site were finalised in seven months.
OMV Petrom executive board member with the responsibility for upstream Peter Zeilinger said: “The start of production at Padina field shows our commitment to continue investments for projects that prove viable, despite the unfavourable context due to the low crude and gas prices.
"With a portfolio consisting mostly of mature fields, Romania needs investments in order to continue oil and gas production.”
The Padina North 1 well provides an average gross gas and condensate production stabilised at approximately 1,900 barrels of oil equivalent a day and ranks among the top in OMV Petrom’s asset portfolio.
Experimental production serves as the final stage of a new reservoir exploration process, which is expected to continue for 12 months at Padina.
This experimental production collects data that will assist with formulating the technical and economical details required for field development.
In 2010, OMV Petrom and Hunt Oil signed a deal to partner for exploration and development of Adjud and Urziceni East onshore blocks holding equal interest. Under the contract, Hunt Oil serves as the projects operator.
Image: OMV Petrom worker. Photo: Courtesy of OMV Petrom
