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Romgaz plans investments of EUR 100 M in the Caragele project

Romgaz will continue to develop the Caragele project, planning to invest around EUR 100 million in new exploitation and evaluation wells over the next period, a press release informs.

Romgaz management met with representatives of Buzau and Braila County Councils and with mayors responsible for the area around Caragele project, to find joint solutions for continuing the project development at a high pace, with positive impact on the surrounding communities. 

”Romgaz continues field development, where investments have already reached EUR 40 million. (…) Taking into account the enhancement of the exploration program in Muntenia Nord- Est area, we will add a new workshop to support the development of the company’s operations. Such operations will consist of drilling a significant number of exploration wells, building gathering and collecting pipelines connected to the wells showing positive test results which will be brought into production. There will be redeployments and also employment of personnel to reach a few hundred that will work for this project when the field will be fully producing,” Virgil Marius Metea, General Manager Romgaz stated.

Last year, the Romanian natural gas producer and supplier announced that it has discovered an onshore field at Caragele of almost 30 bcm. The estimations are only preliminary, as the fields are still in the process of being explored and could cover consumption for three years.

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