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Press Release - Romgaz to increase daily production by 30% in the Caragele field

Romgaz announces the beginning of production from the deep reservoir of the Caragele field through the 77 Rosetti well, having a production potential of more than 1500 boe. In 2016, Romgaz identified an important discovery in the NE sector of the Moesic Platform within the Caragele field, at a depth of over 4000m, and that well confirmed in production the initially announced discovery. Romgaz CEO Mr Adrian Volintiru stated that: “Such a result rewards the significant efforts of the company, made over the last period, to explore at deep depths, in high risk condition but with a prospective confirmation of important hydrocarbon accumulations in the licensed blocks. The exploration and development works will continue at a sustained rate to allow for potential increase of the assessed volume of the gas originally in place, as well as the recovery of such. Romgaz has also intensified the production activities in the medium depth zone of the Caragele field by putting into production two new wells having an average daily flow rate of 1000 boe.”

You can find more details about this topic in the Press Release below.