NIS to explore for oil in Romania

Oil Industry of Serbia (NIS) has signed a memorandum of understanding with East West Petroleum Corporation (EWP).

Izvor: Tanjug

Wednesday, 25.05.2011.

17:04

Default images

Oil Industry of Serbia (NIS) has signed a memorandum of understanding with East West Petroleum Corporation (EWP). The two companies plan to drill 12 holes in four blocks in Romania. NIS to explore for oil in Romania The Gazprom-owned company said in a statement on Wednesday that the new joint project of development of oil blocks in Romania, which are a part of EWP's asset portfolio, is one of the steps taken by NIS aimed at expanding its presence outside of Serbia. It would also serve to realize the company's strategy of transformation into an active regional player in the Balkan energy market, said NIS Director General Kirill Kravchenko. NIS's active participation in the project will enable the company to gain new experience and apply new technologies for the processing of complex reserves, Kravchenko said, adding that, according to certain estimates, successful results of the exploration will make it possible for NIS to double its reserves. NIS and EWP are planning an extensive cooperation on the exploration and production of oil and gas in the territory of about 1 million acres in four concession areas in Romania, and new exploration licences are located in the western region of the country, in the rich Pannonian Basin. EWP is a developing company for oil exploration and production, which focuses on both conventional and unconventional oil sources. EWP has production capacities in Egypt and Canada, as well as exploration capacities in India, and it carries out joint explorations with the Kuwait Energy company in Egypt, Yemen, Russia and Ukraine.

NIS to explore for oil in Romania

The Gazprom-owned company said in a statement on Wednesday that the new joint project of development of oil blocks in Romania, which are a part of EWP's asset portfolio, is one of the steps taken by NIS aimed at expanding its presence outside of Serbia.

It would also serve to realize the company's strategy of transformation into an active regional player in the Balkan energy market, said NIS Director General Kirill Kravchenko.

NIS's active participation in the project will enable the company to gain new experience and apply new technologies for the processing of complex reserves, Kravchenko said, adding that, according to certain estimates, successful results of the exploration will make it possible for NIS to double its reserves.

NIS and EWP are planning an extensive cooperation on the exploration and production of oil and gas in the territory of about 1 million acres in four concession areas in Romania, and new exploration licences are located in the western region of the country, in the rich Pannonian Basin.

EWP is a developing company for oil exploration and production, which focuses on both conventional and unconventional oil sources.

EWP has production capacities in Egypt and Canada, as well as exploration capacities in India, and it carries out joint explorations with the Kuwait Energy company in Egypt, Yemen, Russia and Ukraine.

Komentari 0

0 Komentari

Možda vas zanima

Uništeno; Zelenski: Hvala na preciznosti 8
Svet

Uništeno; Zelenski: Hvala na preciznosti

U ukrajinskom napadu na vojni aerodrom na Krimu u sredu ozbiljno su oštećena četiri lansera raketa, tri radarske stanice i druga oprema, saopštila je danas Ukrajinska vojna obaveštajna agencija.

14:21

18.4.2024.

1 d

Podeli: