OMV Petrom invests EUR 90 mn for the Oprisenesti oil field redevelopment

OMV Petrom, the largest oil and gas producer in Southeastern Europe, announces the implementation of the redevelopment project of Oprisenesti oil field, located in the South-East of the country, in Braila County. The project envisages EUR 90 mn investments until end of 2013. Johann Pleininger, member of OMV Petrom Executive Board, responsible for Exploration and Production: “OMV Petrom is constantly investing in new technologies and secondary recovery methods to redevelop mature fields in Romania in order to improve the oil and gas recovery rate and stabilize production levels. In this way we can extend the fields’ production life, with positive impact for the long term supply of energy to Romania.” Oprisenesti is a mature oil field, in production for almost 50 years, with a daily production of around 2% of the total oil production of OMV Petrom in Romania. The purpose of the field redevelopment is to unlock additional total hydrocarbon reserves of 8 mn boe (equivalent to around 30% of OMV Petrom annual oil production) by drilling new wells, repressurization by water injection, modernization of equipment and implementation of new techniques to certain mature fields. The Oprisenesti redevelopment project consists of drilling 30 wells, using water injection and high pressure injection stations. In addition the project includes the construction of a water treatment station, which will significantly reduce gas emissions in the atmosphere and pollution sources, as well as a new pipeline transport network and three new pump stations. At the end of 2012, four field redevelopment projects were in the engineering phase and two projects passed Final Investment Decision, namely Oprisenesti and Suplacu de Barcau. Production on the six fields represents approximately 40% of OMV Petrom’s current production. The necessary investments for the implementation of the six projects, including Oprisenesti, will reach approximately EUR 400 mn for the period 2013-2015. (OMV Petrom Communique, May 17^th)

Source: www.bvb.ro