Repsol SA and OMV Petrom will sign an accord today to jointly explore four onshore oil and gas fields in Romania. The two companies plan to invest about 50 mn euros in the next two years for exploration drilling in the deep onshore blocks located in the southern Romania, Petrom announced. Repsol will hold a 49 percent working interest in the fields, according to the statement.
“This partnership with Repsol is an important step for evaluating the hydrocarbons potential in the four blocks,” Johann Pleininger, a member of Petrom’s executive board responsible with exploration and production, said in the statement. “One of our major objectives is to unlock the deep onshore exploration potential in Romania.”