NIS resumes exploration of oil and gas reserves in Romania’s Timis County

, Investors

Serbia’s NIS Petrol, a branch of Russia’s Gazprom, has announced it will resume operations in the perimeter EX-7 Periam in the Timis County, the website reports.
Work on the collection of 3D seismic data kicked off in late 2014 in two perimeters – EX-7 Periam and EX-8 Biled, and these data were collected on a surface area of 306 square kilometers until March 2015.
In order to finish seismic exploration in the perimeter EX-7, NIS Petrol will continue to work on a surface area of about 150 square kilometers in a zone where the company already has a signed agreement with landowners, the company said in a release.
The acquisition of these data will cover 78% of the total program assumed by NIS Petrol.
This program includes two major phases of operations. The first phase calls for the acquisition of seismic data on a surface area of 580 square kilometers and the drilling of three exploitation bores in each perimeter in a bid to identify oil and gas reserves.
Seismic data collected in this phase have been submitted for analysis, based on which proposals for exploitation drilling will be made in the following period.
NIS conducts a survey and production activities in Serbia, Romania, Hungary, and Bosnia-Herzegovina.


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