Petrom considers expanding its businesses by entering the shale gas sector
September 25 2013
While Petrom approximates its investment will reach EUR1.2 billion this year, in 2014 they're going to invest about EUR0.8 - 1 billion in the business, said Mariana Gheorghe, General Director at Petrom, during the Reuters Investment Summit held in September.
Gheorghe also talked about the possibility of Petrom expanding its business by entering the shale gas field, after Gerhard Rois, president at OMV (the group that owns Petrom) said last year that Romania should extract shale gas if geological studies indicated significant reserves.
The expansion in the shale gas extraction would come only after 2021, once the current strategic plan will have expired, but any earlier opportunity will be considered as well: 'If it will match our strategy, if it will be a feasible business, meaning that we'd have resources, such opportunities will not be disregarded.' added Mariana Gheorghe.
Romania ranks third in Europe, following Poland and France, according to recoverable shale gas reserves. The estimates indicate Romania has gas reserves amounting 1400 billion cubic meters – the equivalent of the national consumption of gas for 100 years as per the data released by ANRM (National Association for Mineral Resources) and submitted by EIA (U.S. Energy Information Administration).
Gheorghe also talked about the possibility of Petrom expanding its business by entering the shale gas field, after Gerhard Rois, president at OMV (the group that owns Petrom) said last year that Romania should extract shale gas if geological studies indicated significant reserves.
The expansion in the shale gas extraction would come only after 2021, once the current strategic plan will have expired, but any earlier opportunity will be considered as well: 'If it will match our strategy, if it will be a feasible business, meaning that we'd have resources, such opportunities will not be disregarded.' added Mariana Gheorghe.
Romania ranks third in Europe, following Poland and France, according to recoverable shale gas reserves. The estimates indicate Romania has gas reserves amounting 1400 billion cubic meters – the equivalent of the national consumption of gas for 100 years as per the data released by ANRM (National Association for Mineral Resources) and submitted by EIA (U.S. Energy Information Administration).
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