New natural gas deposit discovered off Romanian Coast

According to an October 14^th Romgaz press release, the company along with PanAtlantic and Lukoil have made an important natural gas deposit discovery.
 The surface of the deposit is estimated around 39 square kilometers while the actual natural gas reserves might amount to around 30 billion cubic meters.
 “ In recent years one of the most important objectives for Romgaz management has been and will continue to be enriching the portfolio of resources and gas reserves by discovering new deposits and the development and bettering the recuperation of resources already discovered. In this respect, the company has allocated more and more resources for the rehabilitation and modernization of existing facilities as well as for new investments especially in geological exploration and exploitation. As such, in 2014 Romgaz invested 1,085 million RON out of which expenses for geological exploration and exploitation represented around 54 percent” the release stated.