S.N.G.N. Romgaz S.A. performs petroleum operations on the Romanian territory as a Sole Titleholder of the Concession Agreement for Exploration – Development – Production approved by Government Decision No. 23/2000, for 8 Exploration – Development - Production Blocks with a total surface of 16.282 km2, organized by three major projects:
- TRANSILVANIA PROJECT: with exploration Blocks RG.01 Transilvania Nord, RG.02 Transilvania Centru and RG.03 Transilvania Sud
- MOLDOVA PROJECT: with exploration Blocks RG.04 Moldova Nord and RG.05 Moldova Sud
- MUNTENIA – OLTENIA PROJECT: with exploration Blocks RG.06 Muntenia Nord-Est, RG.07 Muntenia Centru and RG.08 Oltenia
S.N.G.N. Romgaz S.A. performs operations in blocks where it is a co-titleholder, together with foreign partners:
- Romania: Commercial deposits, in collaboration with Energy S.R.L.: Bilca, Vicșani, Fratauți, Voitinel, Lilieci
- Romania: Commercial deposits, in collaboration with Amromco Energy S.R.L. (as operator): Bibesti, Stramba, Finta - Gheboaia, Fierbinti - Targ, Frasin - Brazi, Zatreni, Boldu, Roșioru, Gura-Sutii, Balta Alba and Vladeni
- Block EX 30 – Trident, deep sea - water area of Black Sea, participating interest of 12.2%, together with associated partner LUKOIL Overseas Atash B.V. (as operator)
2020 – Major gas discoveries
- 10 exploration wells that completed drilling works, 5 wells of which performed positive results in the production tests (they will enter the experimental/final exploration phase after the execution of the necessary infrastructure) and a well is in production tests;
- 3 wells performed final production tests, with a positive result;
- Exploration of the Transylvanian Basin at the level of pre-saliferous depth objectives – within the major project “Transylvania” - continues by preparing deep-sea drilling wells;
- Evaluation of Caragele – Deep discovery and confirmation of prospective potential at the level of deep-sea objectives of Mesozoic age;
- Acquisition of 3D seismic data in Blocks RG.08Oltenia and RG.06 Muntenia Nord-Est.
Hydrocarbon exploration focuses on generating value by increasing and enhancing the resources portfolio, given that natural gas represents the energy source that will continue to be important for society over the coming decades. The objective of optimising resources, increasing the efficiency of all sectors of exploration through improved logistics and digitization are key directions for ensuring the quality, competitiveness and continuity of exploration activity.
Increasing our gas reserves and resources is a strategic priority. Diversification/expansion of gas resources and reserves is achieved through „Discoveries + Enhancement in the recovery rate of proved reserves”.
On the basis of new discoveries made in 2020, the annual reserve replacement rate (RRR) was estimated at 60%.
For Q1 2018, DeGolyer&MacNaughton, an American company, carried out the external audit process for contingent reserves and resources held by Romgaz, thus:
- total Contingent Resources of 78.4 billion m3 (+55% as compared to December 2015)
- average reserve replacement rate for the last 5 years of 78% - a lot above the company’s target of 70%
Audited contingent reserves and resources as of December 31, 2017
(billion m3, % of the total)