ROMANIA

(in Eastern Europe)

CAPITAL: BUCHAPEST

POPULATION: 23 mm

AREA (on): 237,500 km2

OIL PEAK: 1976

SUPPLY

Romania, one of the oldest producing regions in the world, witnessed peak oil production in 1976. There are few remaining prospects in the main oil provinces located in the eastern and southern Carpathians and other areas are also in decline.

Gas is mainly produced in central Romania from the Pannonian basin and this too has peaked with no chance that continued decline will be prevented.

Some small amounts of oil and gas have been produced offshore in the Black Sea but, despite efforts by foreign companies, little potential is now recognised, even though some modest growth is possible from small identified accumulations. Resoultion of a land rights dispute with Ukraine may eventually lead to increased activity.

 

DEMAND

Some recovery in oil consumption has occurred in Romania although little further growth is now expected through to 2016, when higher prices will kick in with the increasing need for imports moderating demand.

Gas consumption is forecast to increase whilst indigenous production declines. Imports from the Former Soviet Union will grow rapidly after rising from 2001. There was a sharp downturn in imports in 2007.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

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