OMV Petrom (BVB: SNP) said that its crude oil and natural gas production declined by 13% and 12%, respectively, in the first quarter of 2022 compared to the same period in 2021, according to a report filed on Friday at the Bucharest Stock Exchange.

The decline is in line with the natural depletion of the deposits, yet perhaps slightly steeper compared to the medium-term dynamics.

Petrom's total hydrocarbon production fell by 13% to about 121,000 barrels of oil equivalent per day in Q1 this year, the company said. The total sales volume was 116,500 boe per day or -11% YoY.

andrei@romania-insider.com

(Photo source: Flickr/OMV Petrom)