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Serinus Energy closer to drilling new wells into Romania gas prospect

BLACK SEA
OIL & GAS

Serinus Energy closer to drilling new wells into Romania gas prospect

Oil and gas exploration company Serinus Energy said on Wednesday that it is ahead of schedule with its exploration drilling program in Satu Mare, Romania, and plans to drill the first well in late June or early July. - SeeNews

The company plans to drill two wells sequentially into the Canar and Moftinu Nord separate natural gas prospects located near the Moftinu gas field and gas plant, it said in a press release.

Subject to the results of the first two wells Serinus Energy anticipates drilling a third well to complete this 2022 drilling programme, it added.

Serinus' recently completed 2D seismic acquisition program has confirmed the attractiveness of these prospects. Permitting for these wells has commenced and is expected to be completed within the next few weeks.

The company also said it is fully funded for its 2022 capital programme in Romania and Tunisia.

Serinus is an international upstream oil and gas exploration and production company with a diversified portfolio of projects in Tunisia and Romania.

The Moftinu gas field, discovered by Serinus in 2014, is the catalyst for future, self-funded, growth in the Satu Mare concession, the company says. Satu Mare is a 729,000 acre exploration block which is 60% owned and operated by Winstar Satu Mare SRL, a wholly owned subsidiary of Serinus.

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