Romania’s biggest onshore natural gas deposit, inaugurated. PM Grindeanu: It ensures the country’s energy independence for 2-3 years

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Domestic natural gas producer and supplier, Romgaz, on Friday opened Romania’s biggest onshore natural gas deposit in the last 30 years, Prime Minister Sorin Grindeanu, Energy Minister Toma Petcu and Economy Minister Mihai Tudose, attenting the event, as well as the presidents of the two Chambers – Calin Popescu Tariceanu and Liviu Dragnea.

PM
photo source: gov.ro

It’s about the oil and natural gas deposit discovered by OMV Petrom and Hunt Oil Company Romania (Hunt Oil), in Caragele, Buzau County, at a depth of 2,500 meters and it was announced three years ago.

“It’s the most important discovery in the years after the Revolution. If we only talk about it, it would ensure the energy independence for 2-3 years. I would like to encourage this, especially since we are talking about a 100 percent Romanian company. We must get out of this vicious circle, given by our inability to exploit natural resources. I just said we have a rich country! When it comes to exploiting the riches, we did not know how to exploit them for the benefit of the citizens,” PM Grindeanu stated.

Moreover, he added that the exploration in Buzau County is very important and will develop in the next years, increasing to 25-27 billion cubic meters of gas.

According to official data, the discovery of the deposit is estimated at 150 to 170 million boe, currently producing 500,000 cubic meters per day. The work program for 2017 includes the drilling of six wells, the investment value reaching EUR 40 million, of which three wells are already in the drilling.

In turn, Energy Minister Toma Petcu said that the deposit on the Caragele platform is estimated at almost USD 4 billion.

Following this discovery, Romania can become a gas exporter and a regional energy hub, Economy Minister Mihai Tudose added.

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