Panfora Oil & Gas, a MOL Group subsidiary in charge of local exploration and production activities, contracted Romanian company Prospectiuni SA to perform surface measuring operations in the EX-6 Curtici perimeter in Western Romania, and identify conventional hydrocarbon resources, according to a statement of the company.

“We are ready to start surface exploration in the EX-6 Curtici perimeter, together with our partner Prospectiuni. We focus exclusively on conventional resources, namely oil and natural gas in conventional rock formations. In this stage of the exploration phase we will collect data that will later be interpreted to locate the existing conventional resources,” said Gabor Zelei, general manager of Panfora Oil & Gas.

According to Zelei, all this information will be included in the in the concession agreement and in the work program concluded with the National Agency for Mineral Resources ANRM.

The first step is to contact and inform land owners and local authorities to announce the planned operations.

Panfora Oil & Gas is ready to ensure fair and transparent conditions for compensation paid to all land owners, fully respecting the existing legislation, according to the company’s statement.

The surface measurements will take about 6 to 7 months for the entire area of 561 sq km, meaning a few days for each land owner, depending on the size of the land. These operations include the placement of sensors and cables on the ground, and the use of vibrating equipment.

“There will be no use of explosives or drilling equipment. The productive potential of the agricultural lands will not be affected in any way,” reads the statement.

Prospectiuni SA is a major Romanian provider of geophysical expertise, with over 60 years of experience in the Romanian oil and gas industry. The company is listed on the Bucharest Stock Exchange under the symbol PRNS.

MOL Group is an integrated oil and gas company from Hungary. The company has operations in around 40 countries in Europe, Middle East, Africa and Asia.

Irina Popescu, irina.popescu@romania-insider.com