BAKU, Azerbaijan, Feb.22
By Leman Zeynalova – Trend:
Romania’s Romgaz company has reduced its total hydrocarbon production from 34.07 million barrels of oil equivalent in 2019 to 29.24 million boe in 2020, Trend reports with reference to the preliminary data from the company.
The company’s gross gas production in 2020 is estimated at 29.06 million boe, as compared to 33.92 million boe in 2019. Condensate production rose from 0.144 million boe in 2019 to 0.188 million boe in 2020.
Electricity production amounted to 937.5 GWh in 2020, as compared to 590.1 GWh in 2019.
Romgaz is the largest natural gas producer and the main supplier in Romania. It is a joint stock company whose majority shareholder is the Romanian State owning a 70 percent stake. The company is listed on Bucharest Stock Exchange and GDRs are transacted on London Stock Exchange. The company has a vast experience in the field of gas exploration and production and a history that began in 1909 with the discovery of the first commercial gas reservoir in the Transylvanian Basin by drilling well Sarmasel.
Romgaz undertakes geological exploration in order to discover new gas reserves, produces methane by exploiting the reservoirs included in the company portfolio, stores natural gas(link is external)(link is external) in the underground deposits, interventions, workover and special operations on wells and technological transport.
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