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Panfora Oil & Gas: no shale gas operations, no hydraulic fracturing and no explosives will be used in EX-6 Curtici perimeter.
There is no intention to purchase any piece of land for geophysical surface measurements.
Ø Panfora Oil & Gas reaffirms it will not explore, or exploit shale gas in the entire EX-6 Curtici perimeter
Ø Work commitment of the signed concession agreement with the National Agency for Mineral Resources (NAMR) for EX-6 perimeter includes only exploration of conventional hydrocarbons, no shale gas
Ø Technologies employed for exploration and possible later production are conventional (no hydraulic fracturing) and have been used in Romania for decades in conventional hydrocarbon perimeters, in the area
Ø Panfora Oil & Gas states again the company has no intention to purchase any piece of land for geophysical surface measurements
Panfora Oil & Gas reaffirms the operations planned for the EX-6 Curtici perimeter do not involve the use of hydraulic fracturing as they target conventional resources only. The technologies which will be used for the entire duration of the concession agreement are the same which have been employed for conventional resources perimeters in Romania, for decades.
“We have never planned and will not conduct any shale gas related operations in the EX-6 Curtici perimeter, and we will neither explore nor exploit shale gas in the entire perimeter by hydraulic fracturing or any other technologies. For the entire duration of the concession agreement we will employ only the conventional technologies which have been used for decades in exploration and exploitation of conventional resources in Romania. Conventional oil & gas exploration and production can coexist with agricultural activities very well, as it has been proven all over Romania for more than a century. Besides, our technologies are state of the art, which means that the productive potential of the farmland remains unharmed and agricultural activities can be resumed immediately after surface measurements”, stated Gábor Zelei, Managing Director of Panfora Oil & Gas in the press release sent to ACTMedia.
All the operations Panfora Oil & Gas is entitled to conduct are detailed in the concession agreement and the work commitment signed with the NAMR, the only relevant public body in Romania in the field of natural resources. These documents clearly indicate there is neither any commitment nor obligation for exploration for unconventional resources, such as shale gas, and the NAMR has further confirmed this.
The exploration works conducted by Prospectiuni SA are the first step in evaluating the conventional potential. Using proven and secure working techniques, the company is committed to maintaining the health and safety of its employees and of the community within which it operates.
With over 65 years of tradition in exploring natural resources in Romania, Prospectiuni uses state of the art technology and equipment. The surface measurements in the EX-6 Curtici area do not involve extraction or use of chemicals in the subsoil, but an "echography of the underground". These will not involve drilling and excavation, therefore activities will not affect the safety of local communities. All the plots of land will be used only temporarily, without affecting their initial condition. The operations do not affect the environment (groundwater, air, etc.), soil fertility or houses of local residents.
The surface measurement operations will last 6-7 months for the total 561 sq km area, which translates to a few days for each land-owner subject to the size of their lands. The productive potential of the farmland will not be affected in any way. Moreover, the plots of lands will be only crossed at a rate of 3-5 km per day, using specialized vehicles and personnel. The agricultural works on the respective plots of land can be resumed immediately after the measurement is finalized.
In order to further reassure any interested party, Panfora Oil & Gas is ready to sign legally binding protocols with all stakeholders, clearly indicating the company will not explore or exploit shale gas, by hydraulic fracturing or any other method, for the entire duration of the concession agreement of the EX-6 Curtici perimeter.
Concerning the land use, Panfora Oil & Gas reaffirms that it will observe in full all Romanian legislation. There is no question of expropriation, as the legislation grants the title holders of concession agreements, the easement rights over the relevant plots of land, in exchange for payment of royalties to land-owners. The company states again there is no intention to purchase any piece of land for geophysical surface measurements. In addition, if any resources potential is indicated by the exploration phase, then the number of wells to be drilled after the potential is evaluated is less than five.
Panfora Oil & Gas is ready to offer fair and transparent conditions as compensations for all land-owners or their lessees, in full compliance of the existing laws. There is limited damage to the farm-land or crops in such operations and all compensations will be paid fully and transparently.
Panfora Oil & Gas is committed to remain one of the respected investors in Arad County. To this extent, the company has become a member of the Romanian Entrepreneurs Union, Arad Branch.