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October 23, 2021
BUSINESS

Stratum Energy starts gas production in Bacau County

Stratum Energy has started oil and gas production from the Poduri field in its Moinesti concession (Bacau County).
Stratum has invested over $70 million in Romania. The company will invest approximately $150 million more in 2015 subject to obtaining the requisite regulatory approvals from the authorities in Romania. Stratum expects to continue to make significant exploration and development investments in the Moinesti concession beyond 2015.
Qasim Sharif, CEO of Stratum, commented: “Stratum is committed to investing in Moinesti and in Romania. The Poduri gas will help the country move closer to its goal of energy independence and thereby improve stability in the region. We are excited to begin full production from Poduri and we look forward to being an active contributor to Romania’s energy security.”
At present, two wells (Poduri 1 and Poduri 2) are currently producing 450,000 cubic meters per day of gas and 100 cubic meters per day of a condensate and light crude mixture. A state-of-the-art drilling rig built in 2014 is currently drilling the Poduri 3 well and is contracted to drill up to 9 additional wells. The company has also constructed a gas export pipeline, with a capacity of 4 million cubic meters per day, to connect the Poduri field with the Transgaz national gas pipeline grid system.
“Subject to the approval of NAMR, production is expected to increase to one million cubic meters per day in the first quarter of 2015 when two more wells will be drilled, completed, and connected for production,” added Mr. Sharif. (stratum-energy.com)

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