OMV Petrom Upstream has operations in Romania, Bulgaria and Georgia, with a solid safety record. In 2020, Group daily production was 144.8 kboe/day. We aim to expand our portfolio through regional expansion.
Operations in Romania
We operate 193 commercial oil and gas fields, most of them onshore. We also have offshore operations in the shallow waters of the Black Sea, in Romania. In 2020, the average oil and gas production in Romania was 138.0 kboe/day.
Our production infrastructure includes thousands of wells, kilometers of pipelines and hundreds of oil and gas facilities: oil & gas processing plants, tank farms, gathering & compressors stations located in our assets.Our portfolio is quite diverse.
- Wells’ depths: The deepest well in our portfolio was drilled 7,000 meters below ground (7000 Baicoi, in Baicoi area, Prahova County). We also have wells which have a depth below 200 meters.
- Wells’ productivity: We have in our portfolio a wide range of wells in terms of productivity, from thousands of wells with a daily production below 5 boe/day up to more than 4,000 boe/day (2020 average) for our best producing well.
We have entered partnerships with international companies for 22 mature fields in PECs (Production Enhancement Contracts). While OMV Petrom continues to be titleholder, our partners operate those fields aiming to maximize production while improving efficiency. In 2016, we have also started experimental production from a new discovery in Padina (Buzau), under a Joint Operation Agreement with Hunt Oil.
Operations in Bulgaria
Operations in Georgia
In June 2020, OMV Petrom, has been selected as the winner of the open international tender held by the Ministry of Economy and Sustainable Development of Georgia for the Offshore Block II.
In March 2021, OMV Petrom, signed the Production Sharing Contract (PSC) for the offshore Block II in the exclusive economic zone of Georgian Black Sea.
The PSC provides for exploration, development and production of hydrocarbon resources in the offshore Block II. It covers a total area of 5,282 square kilometers and the water depth varies between 400 and 2,000 meters.
As an operator, OMV Petrom will establish an operating company in Georgia, proceed with geoscientific and environmental studies in 2021 and prepare for a large offshore 3D seismic campaign in 2022, which will allow for a detailed evaluation of this block’s potential.