June 26 (SeeNews) - Oil and gas exploration company Serinus Energy said on Tuesday that it has completed the flow-test results of the Moftinu - 1007 well.
After completing the perforation and well completion operations, the company initiated the testing program for all three gas-bearing zones, Serinus said in a press release.
The well is now shut-in for a five-day pressure build-up, after which the well will be tied-in to the flowline connecting to the Moftinu gas plant, once the construction of the flowline has been completed.
In May, Serinus announced that its Moftinu - 1007 well in Romania was spudded.
It was drilled to 1,463 metres.
This well is the re-drill of the Moftinu - 1001 well that was lost following an unexpected gas release which led to a strong fire in December 2017.
The well is expected to penetrate four gas-bearing sand formations, three of which were present in the lost well.
The Moftinu gas field, discovered by Serinus in 2014, is the catalyst for future, self-funded, growth in the Satu Mare concession, with first production scheduled for 2018. Satu Mare is a 729,000 acre exploration block which is 60% owned and operated by Winstar Satu Mare SRL, a wholly owned subsidiary of Serinus.
In May, Serinus signed an engineering, procurement, construction and commissioning contract with Romania's Confind for the construction of a gas processing facility and associated flowlines and pipelines for the Moftinu Gas Development Project.
Serinus is an international upstream oil and gas exploration and production company with a diversified portfolio of projects in Tunisia and Romania.The common shares of the company are traded on the Warsaw and Toronto stock exchanges.