OMV Petrom, the largest integrated energy company in Southeastern Europe, announced Thursday, July 3, the discovery of a new natural gas reservoir in Spineni, a locality situated about 70 kilometers northeast of Craiova, southwestern Romania.
The find was confirmed following the drilling of the 1 Spineni exploration well to a depth of approximately 4,800 meters. Production tests revealed a daily output potential of 180,000 cubic meters of natural gas and 25 cubic meters of condensate, totaling around 1,300 barrels of oil equivalent per day.
This new prospect was identified using data gathered during the 3D seismic survey carried out in 2022 in the X Craiova exploration block. Testing results confirmed the commercial viability of the reservoir, with the next step being the approval of the development plan.
For this onshore project, OMV Petrom stated that it has already invested approximately EUR 15 million during the exploration phase.
“In 2025, we plan to invest RON 5.8 billion in Exploration and Production, with nearly half allocated to onshore operations – while also advancing offshore Neptun Deep, a strategic project that requires large-scale investment. We continue to invest in order to contain the natural decline in production from mature fields and to pursue new near-field opportunities in proximity to our existing operations,” said Cristian Hubati, Member of the Executive Board responsible for Exploration & Production.
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual group hydrocarbon production of roughly 40 million boe in 2024. The group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant.
The OMV Petrom group is present in the oil products retail market in Romania and neighboring countries through approximately 780 filling stations under two brands – OMV and Petrom.
As of end-2024, Romanian shareholders hold over 44% of the OMV Petrom shares, of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 23.7% are owned by pension funds in Romania. They are joined by almost 500,000 individual investors and other Romanian entities.
OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 4.5% are held by other foreign investors.
Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.
irina.marica@romania-insider.com
(Photo source: Omvpetrom.com)
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