Petrom Exploration and Production Division (Piteşti)

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Petrom, a member of the OMV Group, is the largest oil and gas producer in South Eastern Europe. In Romania, Petrom is the sole crude oil producer and accounts for approximately half of the Romanian gas production.
Petrom Exploration and Production business explores for and extracts oil and natural gas in Romania and other countries in the Caspian region.

The domestic oil and gas production amounted in 2010 to around 173,900 boe/day while total proved oil and gas reserves were approximated to 832 mn boe (Romania: 805 mn boe) at the end of December 2010.

In Romania, Petrom holds exploration licenses for 15 onshore and 2 offshore blocks, with a total area of 59,100 km2 (of which 13,730 km2 is offshore) and operates 255 commercial oil and gas fields.

Continuous revisions of mature fields, achievement of the drilling program combined with diversification of the recovery mechanisms applied in 2010 led to an increase of the reserve replacement rate in Romania from 70% in 2009 to 72% in 2010. Petrom Group reserve replacement rate decreased to 67% due to reserves revisions in Kazakhstan.