Romania’s OMV Petrom, a subsidiary of the Austrian oil and gas company OMV, has announced the discovery of new crude oil and natural deposits in southern Romania totalling over 30 mboe of recoverable resources. These reserves are equivalent to around three quarters of OMV Petrom’s 2022 production.
One of the discoveries made by OMV Petrom was in the Verguleasa exploration area, in the Oltenia region, where the company identified crude oil resources totalling around 20 mboe, representing OMV Petrom's largest crude oil discovery in decades. Another discovery was made in the Târgoviște exploration block (6 mboe), while a third one was made in the Târgu Jiu exploration block (7 mboe).
As of end 2021, Romania proved oil reserves amounted to 600 mbl, while its natural gas reserves stood at 77 bcm.