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    Serinus builds onshore Romanian gas portfolio

Summary

The well is near its Satu Mare processing facilities, allowing a quick route to market

by: William Powell

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Serinus builds onshore Romanian gas portfolio

AIM-listed explorer Serinus Energy struck gas with its 1,600-m Sancrai - 1 well in northern Romania, it said July 15. The well was drilled five days ahead of schedule and at about 80% of the budget. Serinus said it would perforate and test the Pliocene sand zone before completing the well for future production.

The field is about 8 km south of Serinus' Moftinu gas development project and gives a similar "high value, high return development opportunity." Being close to the processing plant allows Serinus to bring the well to commercial production while drilling additional appraisal development wells into the structure in order to fully delineate the gas field.

Serinus said the field "provides further affirmation of the company's belief that there are multiple shallow gas fields within the Satu Mare concession area."

A March 2021 NGW interview with CEO Jeffrey Auld about Romania's onshore upstream gas may be read here.