about us | newsletter | contact | archive | members area
Nicolae Ghibu, Certsign
Regulations will come gradually and will cover all areas»

Romgaz to start drilling in Slovakia within few months

The state-run company Romgaz Medias (SNG), one of the two big gas producers in Romania will start in Q3 of this year exploitation drilling in the three concessioned areas in Slovakia, works which should have been started in 2013.

2015-07-08 10:16:46

"From the contract point of view, the areas in Slovakia got into a new phase of exploitation, phase which includes drilling works, acquisition of magneto-telluric data. The work programme for 2015 includes the drilling of two exploitation drilling wells at a depth of 1,200 m," the company said. In Slovakia, the exploitation phase could last until 2016.

Romgaz owns starting with 2008 a share of 25 per cent of the licence for the areas Svidnik, Medzilaborce and Snina in Slovakia. In the case of the projects in Poland, Romgaz owns a share of 30 per cent of two of the licences, taken in 2008 as well. The partners are San Leon Energy with a share of 45 per cent and another British company Sceptre Oil&Gas with 25 per cent.As regards the areas Cybinka and Torzym in Poland, they are in exploitation phase which could last until the beginning of 2017.

In 2014, Romgaz extracted 5.66 billion cubic metres of natural gas. The consolidation of the process of establishing the production at the level of 5.66 billion cubic metres for the fourth year in a row led to the annulment of the production decline. The Romgaz officials say that in the strategy of the company was included for the period of 2012-2016 a decline of production of maximum of 1.5 per cent /year.

Romgaz had in 2014 a net profit of 1.4 billion lei, up against the net profit of 2013, of 995,5 million lei.The turnover of the gas producer increased from 3.89 billion in 2013 to 4,49 billion lei in 2014. The estimated net profit for 2015 is 1.51 billion lei and the income from the exploitation is 4.58 billion lei. On 31 March 2015, the debts recorded and due to the activity of commercialising natural gas are 559.25 million lei. The main debtors are Interagro, Elcen Galati, Cet Iasi and GHCL Upsom.

There are 0 comments:

Validation Code

0 Comments  |  9486 Views
Daily Info
Smart city is not a fad, it's a necessity

In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo...

Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers"

"We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u...

Telekom Romania, a strong supporter of Smart City development in Romania

Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society...

In the industrial era, the fight was for finite material resources. Not anymore

Now organizations fight and develop themselves for and around their talent. In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e...

Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania"

Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p...




More on News
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania

Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania.


ArcelorMittal receives binding offer for European assets from Liberty

British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people.


Revolut gets European banking license

Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi...


The Romanian labour market needs a well-thought approach, says FIC

The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w...


Dacia receives 115.8 million RON in state aid from the Finance Ministry

The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million.


EBRD cuts economic growth forecast for Romania

Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an...

OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg

OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B...