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Serinus Energy finds gas in Sancrai -1 well in Romania

BLACK SEA
OIL & GAS

Serinus Energy finds gas in Sancrai -1 well in Romania

Oil and gas exploration company Serinus Energy said on 15 July that it discovered gas during the drilling of the Sancrai -1 well in Satu Mare in Romania. Source: SeeNews

The well was drilled five days ahead of schedule and approximately 19% below budget, Serinus said in a press release.

The company will now proceed to perforate and test the Pliocene sand zone prior to completing the well for future production.

This newly discovered gas field lies approximately 7.8 km to the south of the Moftinu Gas Development project and provides Serinus with a high-value, high return development opportunity similar to the Moftinu Gas Development project. The close proximity of the Sancrai – 1 well to the Moftinu Gas Plant provides the Company with the option to bring this well onto commercial production while drilling additional appraisal development wells into the structure in order to fully delineate the gas field.

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 that is 60% owned and operated by Winstar Satu Mare SRL, a wholly-owned subsidiary of Serinus.

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