Exploration & Production

We proudly continue the over 160-year oil tradition in Romania by responsibly managing oil and gas fields. Our Exploration & Production expertise varies from deep onshore and offshore exploration to mature fields, as well as shallow and deepwater offshore production.  

The production portfolio includes an array of fields - predominantly mature - that have been in operation for many decades, as well as newly discovered ones. We aim to expand this portfolio regionally, while continuously optimizing our operational footprint and enhancing the quality of our assets.

Key Figures (2024)

Oil and Gas Production

OMV Petrom is the largest oil producer in Romania and the second largest producer of natural gas. In 2024, our total hydrocarbon production averaged 40 million boe, with natural gas accounting for 52% of the output. Our recoverable reserves stand at 395 million boe, of which 52% is natural gas.

Aligned with our Strategy 2030, we aim to increase the share of natural gas to 70% of our total hydrocarbon production. This strategic shift reflects our commitment to low carbon energy, as natural gas is the cleanest fossil fuel and Romania benefits from significant domestic resources.

Continued investment is essential to sustain production levels, particularly in mature fields that have been in operation for decades. By investing in oil and gas, we support Romania’s energy security and growing demand, while enabling the transition to lower-carbon energy.

Safety First

At OMV Petrom, safety is our top priority. We are committed to maintaining safe, reliable and efficient operations, which underpin everything we do, from field development to daily production activities. Our safety culture is embedded across all levels of the organization, ensuring the protection of our people, communities and the environment.

Exploration for the Future

To secure long-term energy supply, we continue to invest in exploration efforts, focusing on both offshore opportunities and near-field developments. These initiatives aim to unlock new reserves and extend the life of existing assets, supporting Romania’s energy independence and our strategic shift toward low carbon energy.

Recent discoveries underscore the success of our exploration strategy, including Spineni, Târgu Jiu and Târgoviște. These findings contribute to strengthening our resource base and ensuring a stable production outlook for the years ahead.