OMV Petrom S.A. (OMV Petrom), the largest energy company in South-Eastern Europe, discovered new resources in close proximity to existing infrastructure in Vâlcea County, Oltenia.

The well 4317 Mamu was drilled as a step out from the existing Mamu field to a depth of approx. 4,400 meters and confirmed the presence of gas and condensate. Due to the close proximity to the existing infrastructure the well could start production in late October with initially more than 190,000 m3/d (approx.1,100 boe/d).

Investment for drilling 4317 Mamu well and connecting it to the infrastructure amounted to approx. 10 million euro.

”The majority of the gas fields in Romania started producing decades ago, they are mature and the production is declining. OMV Petrom continues to invest in exploration and production activities to mitigate this decline and to ensure security of energy supply. In the first 10 months of this year, we have ramped up investment by more than 40% compared with the same period of last year and we drilled 89 new wells and sidetracks. This comes in addition to the 9 billion euro already invested in Romania, in Upstream between 2005 and 2017”, says Peter Zeilinger, OMV Petrom Executive Board member responsible for Upstream.

The Mamu field has been producing since 1980, but it continues to be one of the top producers in OMV Petrom’s portfolio. Current production from the field amounts to approx. 4,500 boe/day. If used only for heating, the annual gas production from Mamu field could heat around 180,000 households.

About OMV Petrom

OMV Petrom is the largest integrated oil and gas group in South-Eastern Europe, with an annual oil and gas production of approximately 65 mn boe in 2015. The Group has a refining capacity of 4.5 mn tons / year and operates an 860 MW high efficiency power plant and a 45 MW wind park. OMV Petrom is present on the oil products retail markets in Romania and neighboring countries through approximately 800 filling stations as of end of 2015.

OMV, one of Austria's largest listed industrial companies, holds a 51.01% share in OMV Petrom. The Romanian state, via the Ministry of Energy, Small and Medium Enterprises and Business Environment, holds 20.64% of OMV Petrom shares, Fondul Proprietatea (Restitution Funds) holds 18.99% and 9.36% is free float on the Bucharest Stock Exchange.