Last checked at 12 Oct 2015 09:49
October 12, 2015
A N N O U N C E M E N T
on the Successful Completion of
Roman Compressor Station Investment Project
Societatea Nationala de Gaze Naturale ROMGAZ S.A. will commission on October 12, 2015 Roman Compressor Station, an investment based on the feasibility study for Roman field on evaluation of geological resource/gas in place and of production rate, assessing the reserves enhancement as a result of gas compression.
The new compression facility installed on Roman Structure provides access to 500 million cm natural gas. Following the commissioning tests, the flow rate increased by 176,000 cm/day and it will continue to increase during exploitation.
Completion of this project compensates the drop of reservoir energy due to depletion of production units and increases the recovery factor. At the same time, access to National Transmission System and the supply and distribution services in the north half of Moldova are improved.
Romgaz allocates increasing resources for refurbishment and modernization of current facilities and for new investments in order to increase operational performance required to maintain the current level of gas supply and in order to meet an increased consumption.
This news release is for information only. All provided data refer to findings, intentions, expectations and forecasts made by S.N.G.N. ROMGAZ S.A. The information provided shall not constitute an invitation, offer, recommendation or an opinion expressed by S.N.G.N. ROMGAZ S.A. to any person to trade any of the shares; moreover this document and all information contained herein shall not constitute the basis for concluding any contract, making any investment decision or for any other kind of commitment. The information contained herein shall be available only for the date when they have been released to the public and are not intended to offer consultancy or advice in any matter.
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S.N.G.N. ROMGAZ S.A. is the largest natural gas producer and main gas supplier in Romania. The Company is admitted to trading on Bucharest Stock Exchange (BVB) and London Stock Exchange (LSE). The main shareholder is the Romanian state holding 70% interest share. The Company has extensive experience in natural gas exploration and production, with a history that started more than 100 years ago in 1909. ROMGAZ performs geological research for discovery of new gas fields, produces methane gas from the fields under its portfolio, stores gas in UGS, performs workovers, recompletions and special operations in wells under company's portfolio and provides specialized technological transportation. ROMGAZ has extended its business area starting from 2013 by taking over Iernut power plant and has become electricity producer and supplier.
Director General,
Virgil - Marius METEA