The Serbian company NIS Petrol, controlled by the Russian oil giant Gazprom Neft, will start prospecting operations in EX-7 Periam perimeter in Timis County (western Romania), a press release informs on Thursday.
“In the present context of oil prices’ sharp drop, NIS Petrol reaffirms its intention to invest on long term in Romania. These plans focus on continuing the ongoing and subsequent stages of the prospecting operations, and identify oil and gas deposits in the perimeters where the company is part of the oil agreements signed with the National Agency for Mineral Resources (ANRM),” the release reads.
Acquisition of 3D seismic data was initiated at end – 2014, in two perimeters in the county – EX-7 Periam and EX-8 Biled, and in March last year, the seismic data were collected over an area of 306 square km, of which 117 square km in EX-7 Periam and 189 square km in EX-8 Biled.
The area dedicated to operations covers 150 square km in the region of localities of Beba Veche, Cherestur and Dudestii Vechi, an area where the company has signed agreements with farmers.
The surface to be prospected this year, plus the one on which was already made the data acquisition last year, will cover 78 percent of the total program undertaken by NIS Petrol. Completing the operations on the remaining area depends on how the exercise of NIS Petrol rights will be resolved amicably or legally, enshrined by oil law, the company representatives say.