Since October 1997, the exploration activity is carried out in 8 blocks located in Transylvania, Muntenia‑Oltenia and Moldova, subject to the Concession Agreement approved by Government Decision No. 23/2000.
Currently, exploration activities are performed under Addendum No. 6 (approved by GD No.1011/22.09.2021 to the Concession Agreement for petroleum exploration-development-production approved by GD No.23/2000, with a validity term of 6 years (10.10.2021 – 9.10.2027). The approved minimum work program includes 36 wells with a total length of 92,000 m and 1,000 km2 3D seismic for all eight blocks, with the total value of the program of USD 195 million.
Main exploration drilling works performed in 2022 are:
- four wells are finalised, out of which one is in conservation, testing gas;
- surface facilities in progress for one well;
- procurement of drilling works for one well;
- preparatory works for initiating procurement of drilling works for 27 wells.
Two projects related to 3D seismic data acquisition and processing in exploration-development-production blocks RG 07 Muntenia Centru and RG 06 Muntenia Nord-Est, covering an area of approx. 650 km2.
Exploration works are designed and prioritised based on technical-economic principles, in order to increase the hydrocarbon resources and reserves portfolio and to maximise the prospective potential of the eight exploration-development-production blocks licensed by ROMGAZ.
The table below shows the evolution of the reserves replacement ratio between 2013-2022:
Reserves replacement ratio is influenced by the improvement of the final recovery factor, by promoting probable and possible reserves and by investments in the infrastructure necessary for streaming in experimental production of new exploration discoveries.