This year, Petrom and its partners will interpret the data obtained through the completion of the seismic studies for the oil perimeters leased in the Black Sea. As a result, Petrom will find out new data about the potential of these new deposits, for which the initial estimates are optimistic. Mariana Gheorghe, the general manager of Petrom, said that it would take years before Petrom could say whether there are any gas reserves in the Black Sea which it can exploit commercially.
Mrs. Gheorghe claims that the secret of the record profit the company posted last year does not come only from the high level of the prices of fuel and crude, but from the investments which Petrom made in the previous years. These investments were done based on durable principles, which have streamlined the production costs and have stabilized production.
Reporter: This year, Petrom and its partners will interpret the data, after the making of the seismic studies in the perimeters of the Black Sea. What does that mean? Will we find certain data about the deposits of the Black Sea?
Mariana Gheorghe: Unfortunately, it is not that easy to get certain data. A deposit can behave differently, even when you start production. Not even when you do that do you have any certainty about the reserves. This is the nature of the gas and oil industry. This year, we will read the statistical data and we will interpret them, to see to what extent the initial estimates will be confirmed, (ed. note: 42-84 billion cubic meters of gas). But this is only an intermediate stage. We still have exploration works to perform. It will take years before we can tell whether we do have reserves in the Black Sea which we can exploit commercially.
Reporter: Do you have any new partnerships under negotiation for explorations and the development of the old deposits?
Mariana Gheorghe: Petrom
