Romania's Romgaz to grow gas output by end-2018

29/11/2018 09:28 Natural Gas

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Romanian natural gas producer Romgaz will increase its output by the end of the year on the back of stepped-up pumping in the Caragele field, the company said on Wednesday.

The Caragele field currently supplies 700,000 cubic meters of gas per day to the system but production is expected to increase to one million cubic meters a day by mid-December, once the company completes and commissions a 16 km-long collector in the area, Romgaz said in a statement.

 

Caragele is the largest onshore natural gas field discovered in the last 30 years in Romania, with estimated reserves of 25-27 billion cubic meters of gas.

 

Romgaz plans to invest 45 million euro ($50.8 million) in Caragele to drill 15 wells and install surface technological equipment at 10 wells. The company believes that investments in the area could reach up to 100 million euro, mainly for boreholes meant to confirm or potentially increase the volume of the estimated reserves.

 

Depending on the results of research drilling, the estimated daily production at Caragele may increase to 1.7 million cubic meters per day, the company said.

 

Romgaz delivers 15 million cubic meters of gas per day to the system, and gas production has increased this year above initial estimates. In the first nine months of this year, Romgaz produced about 4.0 billion cubic meters of gas, up 4.56% over the same period of 2017.

Source: seenews.com

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