November 26 (SeeNews) - Oil and gas exploration company Serinus Energy said on Monday it fears that some technical issues will cause delays in starting full production at its Moftinu gas plant in Romania.
The plant is able to operate at pressure with sustained production, but is still waiting for the installation of a low-temperature separation unit and the triethylene glycol unit, Serinus said in a press release.
Serinus was expecting installation, commissioning and production of the units by December. However, the company said it is not confident that its contractor will respect the deadlines.
The contractor has reported back to the company that it has made progress in the spooling, assembly, hydro testing, and painting of the units. However, However, the installation of insulation and electrical elements still needed to be completed prior to the commencement of a factory acceptance test.
Serinus also said it is making every effort to get the units to the site as soon as possible.
Earlier this month, Serinus said that that flow-testing from three of the deeper zones of its Romania-based Moftinu-1003 well has produced gas.
The Moftinu gas field, discovered by Serinus in 2014, is the catalyst for future, self-funded, growth in the Satu Mare concession, according to the company. 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.
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 stock exchanges in Warsaw and Toronto.