Petrom Romania’s crude oil production down 4 pct in H1

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Petrom’s crude oil production in Romania stood at 15.71 million barrels of oil equivalent in the first half of the year, that is a drop by 4 percent against the level in the first half of 2008, mainly because of certain minor technical problems caused by the unfavourable meteorological conditions and the reduced capacity of the new drills and also as an effect of the less frequent intervention works at the drills, according to a release of Petrom.

The production of natural gas stood at 2.660 billion cubic m, that is a drop by 6 percent compared with the same interval in 2008.

The level of the gas production was mainly affected by the drop in the demand, in the context of an weakened economic environment, especially in the chemical fertilizers industry, and also because of the delay in certain development projects.

The Petrom’s gas and crude oil production dropped by 5 percent January through June compared with the same interval last year, down to 34.09 million barrels of oil equivalent (that is 188,354 barrels of oil equivalent per day), because of the drop in the domestic production.

In the first half of this year, the group’s crude oil production went down by 3 percent against the first half last year, down to 16.53 million barrels of oil equivalent, mainly because of the drop in the domestic production of crude oil.

The total crude oil and gas production of Petrom SA Romania reached 33.11 million barrels of oil equivalent, that is a drop by 5 percent in the same interval in 2008.

The Petrom group’s production of crude oil and gas dropped by 5 percent in the second quarter of 2009, compared with the second quarter a year before, down to 16.79 million barrels of oil equivalent in the second quarter in 2009 and by 5 percent compared with the figure in the second quarter in 2008.

The group’s crude oil production stood at 8.25 million barrels of oil equivalent, that is a decrease by 4 percent on the second quarter in 2008, as following the lower production of crude oil in Romania.

The group’s crude oil and gas production in Kazakhstan stood at 504,000 barrels of oil equivalent, down 1 percent compared with the 2nd quarter of 2008, as following the slowing down in the pace of the drilling technology development.

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