Oil and gas company Rompetrol Group will start the first geological prospective drilling in the Focsani perimeter, in Vrancea county, on a site that has been under a Rompetrol concession since 2005.

The Kaz 1 bore is located close to Fitionesti village in Vrancea and will reach a projected depth of 4,200 meters. This is part of a project worth over USD 10 million this year and USD 17.5 million in 2013.

“It is an important step for the oil and gas industry in Kazakhstan and of the national KazMunayGas (KMG), with the first bore outside its borders. So far, such drilling has only been done in Kazakhstan. This is a new step in the development strategy for Rompetrol group, part of the long term strategy for KMG, to be one of the top 30 largest oil and gas companies in the world,” said Zhanat Tussupbekov, general manager of Rompetrol Group.

Rompetrol currently has five perimeters for geological exploration in Romania under concession – at Satu Mare, Zegujani, Greşu, Nereju and Focşani.

In Romania, the company, majority owned by KazMunayGas, also runs production units and a marketing and distribution network.

editor@romania-insider.com

(photo source: Arhivafoto.ro)