100 Years of Gas Industry in Romania
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1 100 Years of Gas Industry in Romania History and Outlook of Romanian Natural Gas Exploration and Production Bernhard Cociancig July 1st, 2009, Ploieşti
2 Content History of Natural Gas Exploration and Production in Romania Outlook on Natural Gas Exploration and Production in Romania Petrom SA
3 Romania Pioneer in E&P Applications Early application of well logging technology in Romanian wells Photo courtesy of Petroleum Museum Ploiesti Schlumberger electrical coring, Resistivity and SP measurements, first tests in Romania in 1928, first commercial contract with Steaua Română, signed in March History and Outlook of Natural Gas Exploration and Production
4 Romania Pioneer in Natural Gas Developments Natural Gas was discovered in Romania 1909: Sărmăşel area (Mureş District). Subsequently, the Natural Gas industry developed based on early discoveries, and production was commercially utilized by households and the spawning industry alike: main usage was for lighting, heating and production of methanol, sodium carbonate and carbon-black. Romania is recorded as the first region in Europe where Natural Gas was industrially utilized starting 1912/13. Photo courtesy of Transgaz SA The first Natural Gas production, transport and marketing organization of note was established in 1912 at Turda: the firm laid a 53 km pipeline from the Sărmăşel gas field to Turda and upon its commissioning in 1917, Turda became the first European town being lit with Natural Gas. 4 History and Outlook of Natural Gas Exploration and Production
5 Romania Pioneer in Natural Gas Compression With time, pressure drop in the Sărmăşel Natural Gas field required installation of compression facilities To secure continued supply to the town of Turda, a compressor station was built at Sărmăşel in Later in 1965, Romania became the first country in Europe to install turbo compressors for gas transport (Batani) Until 1985, the continuous increase in the demand of Natural Gas required the installation of further 21 compressor units with a total installed power of 65,610 HP. Photo courtesy of Petrom 10 GK Compressor Station 5 History and Outlook of Natural Gas Exploration and Production
6 Natural Gas Storage Facilities in Romania Increasing demand for supply security of Natural Gas even during seasonal, daily and hourly fluctuations required installation of gas storages in Romania commencing in 1978 for peak-shaving To date, Romania harbors a total of eight underground gas storage (UGS) facilities with a total turnover capacity of some 3.1 Bm3 Bucharest area: Urziceni Bilciureşti Bălăceanca-Postăvari Oltenia: Simnic-Gherceşti Transylvania: Târgu-Mureş Sărmăşel Nadeş-Prod Cetatea de Baltă 6 History and Outlook of Natural Gas Exploration and Production
7 Natural Gas Production and Consumption Romanian Natural Gas Production provides approx 70% of domestic demandd Natural Gas output peaked in 1983 with over 37 Bm 3 Present total Natural Gas Romanian production level stable since 2003 at some 11 Bm 3 per year Natural decline registered by Petrom arrested through h intensive i well work-over, reservoir management, installation of compression facilities and exploration successes Product ion Annual Gas Volumes [Bm 3 ] Consumption History and Outlook of Natural Gas Exploration and Production
8 Petrom, State-of-the-Art Geoscientific Applications in Romania Modern and state-of-the-art geophysical, geological and reservoir engineering applications support the quest for hydrocarbon exploration and production in Romania 3D-seismic surveys, y, reservoir modeling and simulation allow optimized recovery of oil and gas from Romanian reservoirs Photo courtesy of TU Delft From seismic data acquisition to reservoir modeling 8 History and Outlook of Natural Gas Exploration and Production
9 Petrom, Romania Pioneer in Contemporary Logging Application Modern, contemporary E+P applications such as diagnostic open and cased dhole logging techniques, assist Romanian petroleum operations Aging installations are modernized and replaced with latest technology in the fields of production, facility and processing Photo courtesy of Petrom 4335 Mamu Casing Diagnostics 9 History and Outlook of Natural Gas Exploration and Production
10 Natural Gas Exploration Potential Remaining Romanian Natural Gas exploration potential is estimated to be some 110 Bm 3 in total Transylvanian Basin contains dry gas, Carpathian basin contains natural gas with often high condensate content Basins Transylvanian Carpathian Probability [Bm3] [Bm3] P P P Mean Source: USGS Bulletin Romania Transylvanian basin (B2204E) USGS Bulletin Romania-Bulgaria (B2204F_508) 10 History and Outlook of Natural Gas Exploration and Production
11 Natural Gas Exploration Potential Expected exploration successes will likely yield small(er) gas discoveries Transylvanian and Carpathian basins can be considered mature exploration areas Nu umber of Discov veries Transylvanian Carpathian Bin Size [reserves/discovery in Bm 3 ] (all results <0.15 Bm 3 excluded) 11 History and Outlook of Natural Gas Exploration and Production
12 Investment in Natural Gas Infrastructure Petrom continuously invests in the improvement of the Natural Gas production, processing and internal transportation infrastructure These investments shall ascertain the continued supply of the Romanian gas market from domestic resources to mitigate the dependency on Natural Gas Imports Photo courtesy of Petrom Mădulari Gas Metering Station 12 History and Outlook of Natural Gas Exploration and Production
13 Investment in Natural Gas Development For optimal gas recovery and transportation, Petrom presently pursues installation of a new gas compressor station in Hurezani The three independent centrifugal compressor trains will have a combined output of some 4.5 MM m3 per day Start-up of the new facilities is scheduled for first half of 2010 Further Natural Gas processing and compression facilities are under consideration in Mamu x7 13 History and Outlook of Natural Gas Exploration and Production
14 Slide 13 x7 we have to stick to what we previously announced! x ;
15 Natural Gas Prices in Romania (in EUR/GJ) - Households Natural Gas prices for households are approximately half compared to EU-15 sales prices X EU-15 Romania History and Outlook of Natural Gas Exploration and Production
16 Slide 14 X7 Mr Kraft (Gas Division) deleted it! X ;
17 Natural Gas Prices in Romania (in EUR/GJ) and for industrial users. compared to costs of Natural Gas in EU- 15, gas pricing i in Romania is quite attractive for industrial users EU-15 Romania Petrom s position is to stepwise eliminate the large price gap between natural gas from domestic production and from import which is distorting the market and is not contributing to a favorable climate for upstream investments History and Outlook of Natural Gas Exploration and Production
18 Petrom SA
19 Petrom SA, Member of OMV Group (1) With business segments such as: Exploration and Production (E&P), Refining and Marketing g( (R&M) and Gas, Power and Chemicals, Petrom has proved reserves of oil and gas of 843 mn boe, a maximum refining capacity of 8 mn tons per year, approximately 550 filling stations in Romania and 269 in Republic of Moldova, Bulgaria and Serbia. In 2008, Petrom s net turnover was 16,751 mn lei, with an EBITDA of 3,565 mn lei. 17 History and Outlook of Natural Gas Exploration and Production
20 Petrom SA, Member of OMV Grup Total investments in 2008 amounted to 6,404 mn lei, 68% higher than in The investments t were directed d mainly towards E&P (71%), while R&M activities benefited of 20% from the total volume of investments. The remaining of 9% represented corporative (especially Petrom Solutions), and Gas, Power & Chemicals investments. 18 History and Outlook of Natural Gas Exploration and Production
21 Exploration and Production
22 Exploration and Production Petrom is the sole producer of crude oil and accounts for half of the gas production in Romania. Due to increasing i drilling activities iti and the modernization efforts, the oil and gas production levels were successfully maintained in The total oil and gas production amounted to 188,476 boe/day. At the end of December 2008, the total domestic proved reserves amounted to 843 mn boe. In 2008, Petrom successfully exceeded achieved the 2010 reserve replacement rate target (RRR), with a level of 71% for the domestic RRR. 20 History and Outlook of Natural Gas Exploration and Production
23 Exploration and Production Strengths The largest assets base in Eastern Europe Gas fields unexploited to their full potential because of the limited infrastructure Modern technology for surface and deep works in testing and production Specialized, devoted and flexible workforce Tradition and long term experience in oil industry 21 History and Outlook of Natural Gas Exploration and Production
24 Exploration and Production Production In 2008, the total oil and gas production in Romania amounted to 69 mn boe, that is boe/day. Investments E&P investments in Romania increased to 4524 mn lei in 2008, that t is 84% higher h than in The high rate of investments as compared to the previous years reflects Petrom s determination to implement drilling, upgrading g and optimization programs. In 2008, Petrom spent 450 mn RON only for exploration activities. 22 History and Outlook of Natural Gas Exploration and Production
25 Exploration and Production Turnaround program The well modernization program triggered a significant reduction in the number of annual interventions on a well. At the end of December 2008, the total number of modernized wells was of 5,049, exceeding the annual objective by almost 190 wells. The 2008 drilling optimization program was successful with a total number of 275 wells finished drilled (48% more than in 2007), of which development wells amounted to History and Outlook of Natural Gas Exploration and Production
26 Thank you!
27 World class Romanian Contributions in Petroleum Technology Invention of Preventer, Virgiliu Tacit, 1912 Invention of heavy weight drilling, Ion Basgan, 1934 Improved refining technology by using SO2, Lazar Edeleanu, 1908 Down hole temperature measurements, Ion Tanasescu, 1912 Geochemistry developed in late 1920s 25 History and Outlook of Natural Gas Exploration and Production
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