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BLACK SEA OIL AND GAS

October 2019   |   Black Sea region

OMV Petrom to transfer 9 onshore oil and gas fields to Mazarine Energy

Posted by GBC on 03-10-2018

Spencer Coca, Managing Director of Mazarine Energy will participate in the panel discussion – How to tackle regulatory and investment challenges stagnating the industry’s growth on 23 of October

OMV Petrom S.A. (OMV Petrom) reached an agreement to transfer the licenses for 9 onshore oil and gas fields in Romania to Mazarine Energy Romania S.R.L., a fully owned subsidiary of Mazarine Energy B.V. (Mazarine Energy).

The fields to be transferred are located in the Moldova area. They have a total oil and gas production of around 1,000 boe/day. Mazarine has identified synergies with existing operations together with untapped potential to extend the life cycle of existing fields.

The agreement follows a successful transfer of 19 onshore oil and gas fields from OMV Petrom to Mazarine Energy in August 2017.

“After successful completion of the first round, this is a logical next step, in line with our strategy to grow Mazarine’s operations in Romania. We look forward to expanding our business and creating value through the additional development of these fields” says Edward van Kersbergen, Founder and CEO of Mazarine Energy.

Source: Mazarine Energy

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