In partnership with Global Data we have prepared an overview of onshore exploration & production in the Black Sea countries – Romania, Ukraine, Georgia, Turkey, and Bulgaria.
Romania’s onshore gas potential remains significant and it also has vast untapped offshore acreage, meaning Romania is one of the few parts of Europe that could see gas output rise in the near-to-medium term.
After the UK and the Netherlands, it has the EU’s third-highest gas production, totalling 9.53 Bcm in 2018, according to data from the latest BP Statistical Review of World Energy. In January 2020 Romanian gas producer Romgaz has boosted output from the onshore Caragele field — the biggest field discovered onshore Romania in the last 30 years — Romgaz by 30% with the start-up of new wells, the company said1.
During the last ten years, Ukraine’s natural gas production has ranged from 20 to 21 bcm/year. At the same period, the share of private producers in total production from 8% to 20%. 80% of production is controlled by Naftogaz and its subsidiaries.1
In a statement July 23, the Association of Gas Producers of Ukraine (AGPU) said the industry downturn and the economic slowdown triggered by the coronavirus had already seen Ukrainian gas output slide by 3% year on year in the first half.2
Ukraine’s political aim is to be self-sufficient in gas in order to eliminate the need for imports and even to become a gas exporter in the future. AGPU had called on the government to include financial incentives in Ukraine’s State Economic Incentive Program, which is designed to overcome the negative effects of restrictive measures due to the coronavirus pandemic in the period 2020-2022.
Ukraine, whose gas production has been steady at some 20 Bcm/year for the past 25 years, has vast untapped potential in its onshore blocks – both for conventional and unconventional resources – as well as in the Black Sea.
Turkish Petroleum Corporation (TPAO) in Turkey’s northwestern Thrace region has resulted in a gas discovery in two new wells, an amount that would meet nearly 15 years of the region’s gas demand.1
Media reports citing local authorities said that as a result of the exploration works, which lasted about five months, a 200-million-cubic-meter (mcm) natural gas reserve was found in the recently drilled wells.
The new wells were discovered in the Pınarca neighborhood of Tekirdağ province by TPAO, which has previously discovered natural gas reserves in the Karaağaç and Kazak Lake areas of the provinces’ Kapaklı district. TPAO drilled 73 wells in 2018 and the company’s oil production reached 136,000 barrels per day (bpd) up to February 2019, an all-time high record, Energy and Natural Resources Minister Fatih Dönmez had said at the time.
Total Georgian oil reserves are estimated at 580 million tonnes, including 200 million tonnes in offshore fields.
Georgia is comparatively under-explored but has a well-developed infrastructure and a couple of international companies starting to operate in the onshore E&P.