Romania has important methane gas reserves at big depths

Romania has important gas reserves big depth, both at sea and inland and another important company is interested in the Romanian Black Sea coast sector, said Sorin Gal, CEO of the General Department Managing, Evaluating Petrol Resources/Reserves within the National Agency for Mineral Resources (ANRM).

“There are important gas reserves at depths of 4,000-5,000 m. They can be brought out with expensive technologies,” said the ANRM official at a press conference on energy topics.

According to him, besides Exxon Mobil, OMV Petrom, Lukoil and Romgaz, which have invested huge amounts in Black Sea explorations, another company is interested in that sector.

“We also have the Black Sea potential which is a significant one. There too, we are talking about investments, especially at big depths of 700-900 m, and costs are significant. I will give you an example: Exxon Mobil and OMV Petrom drilling program in the Neptune area meant 1.5 billion dollars, an investment which can be hardly found in Romania. Lukoil and Romgaz invested over 500 million dollars in two other areas, so everybody is investing big money. A large company is now interested in the Black Sea,”Gal continued.

He also said that ANRM has been expecting for two years the amendment of laws in the oil sector, in order to launch a new round of perimeters.

“The Bulgarians succeeded in having a round of tenders in four months. In 2015 I became CEO and intended to launch packages for a new round in 6 months. We finished by the end of 2015 and have been waiting ever since,”the ANRM official said.

The last round of concessions launched by ANRM, the 10th, began in 2009 and was finished in 2010.

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