Serinus Energy granted extension of Satu Mare exploration

Energy Trade

Photo by P.V.R. Murty/Shutterstock.com

Channel Islands-based oil and gas exploration company Serinus Energy said on Thursday it will start drilling the Moftinu-1004 gas well in Romania’s Satu Mare in the first quarter of 2020, after it was granted a 12-month extension of the third exploration phase of the Satu Mare concession.

File photo of gas well head by P.V.R. Murty/Shutterstock.com

The Moftinu-1004 well is already permitted and construction of the surface facilities needed to drill it are underway, the Jersey-based Serinus said in a statement.

Once successfully completed and tied in, the Moftinu-1004 well will provide additional gas production to the Moftinu Gas Plant.

Given the granting of the 12-month extension, the company says it anticipates that the seismic acquisition program will now commence in the second quarter of 2020.

It is is anticipated that the Moftinu-1004 well will be drilled to a depth of approximately 1,000 meters, Serinus Energy said.

Pace of Natural Decrease Slows in April Figures

Pace of Natural Decrease Slows in April

Polish Unemployment Falls in April World

Polish Unemployment Falls in April

Falling Revenue, Narrower Margins Put Rába in Red Automotive

Falling Revenue, Narrower Margins Put Rába in Red

Tourism Nights Spent in Hungary Down Slightly in April Tourism

Tourism Nights Spent in Hungary Down Slightly in April

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.