Petrom SA Company News

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Erdogan Touts Black Sea Gas Discovery
Friday, August 21, 2020President Recep Tayyip Erdogan said Turkey has found 320 billion cubic meters of natural gas in the Tuna-1 field in the Black Sea.

Gas Pipeline Through Central Europe to Go Ahead As Planned -Romania
Thursday, September 28, 2017The pipeline, BRUA, will ultimately be able to carry 4.4 billion cubic meters of gas from Bulgaria and Romania to Austria by 2022.

Romania Does Not Have Shale Gas, PM Ponta Says
Monday, November 10, 2014Romania's shale gas does not exist, Prime Minister Victor Ponta says.

Mediafax: OMV Petrom to Invest in Suplacu Redevelopment by 2015
Friday, March 29, 2013OMV Petrom will invest around $255.9M up to 2015 in redevelopment works at its Suplacu field in the northwestern locality of Barcau, the company said in a statement, news agency Mediafax reports.

Petrom Announces Potential Significant Gas Find in NW Romania
Thursday, July 07, 2011Petrom said drilling success at its 4539 Totea exploration well could be the "most important onshore gas discovery in the last six years," Mediafax reported.

Analysis: Drilling Picks Up in the Mediterranean and Black Seas
Friday, September 18, 2009With multiple projects upcoming and prolific production existing, both the Mediterranean and the Black Sea are logging more rig time every year.

Petrom Starts Up Oil Production from 2 Black Sea Wells
Wednesday, September 16, 2009Petrom commenced first oil production from the recently drilled offshore wells Delta 6 and Lebada Vest 04 in the Black Sea.

Petrom, ExxonMobil Commence Joint Foray into Black Sea
Monday, August 10, 2009Petrom, as operator of the Neptun Block in the Black Sea, is commencing initial 3D seismic studies with co-venturer ExxonMobil.

Petrom Registers First Exploration Success in Russia
Monday, August 03, 2009Petrom has confirmed both oil and gas discoveries in the exploration well Lugovaya-1, located in the Russian Kamenski license.

Petrom Starts Oil Production at Komsomolskoe Field in Kazakhstan
Thursday, June 25, 2009Petrom has started up oil production on Komsomolskoe field located in the Mangistau region of western Kazakhstan.

Exxon Inks Romanian Agreement to Hunt for Black Sea Hydrocarbons
Wednesday, December 03, 2008ExxonMobil has signed an agreement with Petrom SA to help explore deepwater portions of the Neptun Block offshore Romania.

PSN to Support 5 Onshore O&G Production Assets in Romania
Tuesday, August 12, 2008Production Services Network has won a significant contract in Romania with Petrom EP for which the Company will support Petrom's five onshore oil and gas production assets across Romania.

Aker Solutions Awarded Umbilical Contract with Petrom
Monday, June 09, 2008Aker Solutions has been awarded a contract to supply steel tube umbilicals to Rumanian oil company Petrom.

Petrom Acquires Petromservice to Enhance E&P Division
Tuesday, September 18, 2007Petrom signed a contract for the acquisition of the oil services activities of Petromservice, related to the exploration and production activities of Petrom.

Petrom Makes First Offshore Discovery in Eight Years
Thursday, September 06, 2007Petrom has made several new discoveries of the course of the year. The most important of them, Delta 4, is the first successful offshore exploration well in the past eight years.

Petrom Uses New Technology to Make Discovery
Monday, May 14, 2007Petrom announces the first exploration discovery in Romania based on the application of new technologies. The discovery well was drilled in the Exploration Block I, Adjud.

Petrom Acquires Exploration Projects in Russia
Tuesday, September 26, 2006Petrom has signed an agreement for the acquisition of a 74.9% majority stake of Ring Oil Holding & Trading Ltd. which holds 100% of six Russian companies, which in turn hold a prospective exploration portfolio in Russia.

Komsomolskoe Oil Field in Kazakhstan Enters Development Phase
Friday, September 22, 2006Petrom has approved the development plan for Komsomolskoe oil field located in Kazakhstan. The oil field development is planned to be finalized in 2008.

Schlumberger Announces Second-Quarter 2006 Results
Friday, July 21, 2006Schlumberger Limited on Friday reported second-quarter 2006 operating revenue of $4.69 billion versus $4.24 billion in the first quarter of 2006 and $3.43 billion in the second quarter of last year.

Petrom Finalizes Sale of MODUs
Tuesday, December 27, 2005Petrom has finalized an agreement for the sale of its six offshore mobile drilling units, related equipment and onshore facilities to Grup Servicii Petroliere S.A. ("GSP").

Aminex Reaches Agreement with Petrom
Monday, February 21, 2005Aminex reports that Petrom S.A. and Aminex's subsidiary Ndovu Resources Ltd. have now resolved a long-running dispute with regard to the costs of the Nyuni-1 well offshore Tanzania, drilled in late 2003/early 2004.

OMV Closes Acquisition of 51% of SNP Petrom SA
Tuesday, December 14, 2004On December 14, 2004 OMV closed the acquisition of a 51% stake in the largest Romanian company, SNP Petrom SA. For the acquisition of 33.34% of Petrom's shares, EUR 669 million is paid to the Romanian privatization agency.

OMV Inks Deal to Acquire Petrom Stake
Friday, July 23, 2004On July 23, OMV, signed a contract to acquire 33.34% of Romania's largest company Petrom, simultaneously with an increase in Petrom's share capital increasing OMV's stake to 51%.

OMV Enters into Negotiations on Petrom
Friday, May 21, 2004OMV welcomes the decision of the Romanian Government to enter into exclusive negotiations concerning the acquisition of a 33.34% stake, followed by an increase in share capital to raise OMV's shareholding to 51%, in the Romanian oil group SNP Petrom SA.

Aminex Says Nyuni-1 Well in Tanzania Reaches Total Depth
Thursday, April 08, 2004Drilling on the Nyuni-1 well has now been completed to a Total Depth of 3,895 meters, finishing in the Upper Jurassic formation.

Petrom Privatization Sale Delayed Again
Wednesday, January 07, 2004The privatization of state-owned oil company SNP Petrom could take longer than expected as interested bidders must first negotiate a series of "extremely difficult" issues, Romanian Economy Minister Dan Ioan Popescu said.

Aminex Says the Nynuni #1 Well is Making Good Progress
Friday, December 12, 2003Aminex says that the Nyuni#1 well offshore Tunisia is making good progress.

ConocoPhillips Pulls Out of Petrom Sell-Off
Monday, November 24, 2003ConocoPhillips decides against placing a preliminary bid for a stake in SNP Petrom.

Petrom Signs Nyuni Joint Operating Agreement
Tuesday, November 18, 2003Petrom has now executed the joint operating agreement for the Nyuni license, offshore Tanzania.

Romania Kicks-Off Petrom Privatization Sale
Wednesday, August 27, 2003Romania opened the bidding for control of its national oil company SNP Petrom earlier this week.

Romania to Complete Petrom Privatization in 2004
Wednesday, August 06, 2003Romania has set a deadline of March 2004 to complete privatization of its national oil company SNP Petrom according to the Economy Ministry.

Privatization of Petrom Moving Forward
Wednesday, July 30, 2003Romania has approved the privatization strategy for state-owned SNP Petrom SA.

Aminex to Begin Tanzania Drilling Program in August
Thursday, May 15, 2003Aminex has signed a contract with Dafora Group of Romania for use of an F200 rig to drill two wells with an option for two further wells on the Nyuni license, offshore Tanzania.