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Serinus Energy finds gas in Sancrai - 1 well in Romania

Serinus Energy finds gas in Sancrai - 1 well in Romania Serinus concessions in Romania

BUCHAREST (Romania), July 15 (SeeNews) - Oil and gas exploration company Serinus Energy said on Thursday that it discovered gas during the drilling of the Sancrai - 1 well in Satu Mare in Romania.

The well was drilled five days ahead of schedule and approximately 19% below budget, Serinus said in a press release.

The company will now proceed to perforate and test the Pliocene sand zone prior to completing the well for future production.

The close proximity of the Sancrai – 1 well to the Moftinu Gas Plant provides the company with the option to bring this well onto commercial production while drilling additional appraisal development wells into the structure in order to fully delineate the gas field, the company added.

Serinus is an international upstream oil and gas exploration and production company with a diversified portfolio of projects in Tunisia and Romania.

The Moftinu gas field, discovered by Serinus in 2014, is the catalyst for future, self-funded, growth in the Satu Mare concession, the company says. 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.