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Romania Has Oil&Gas Reserves For 15 Years – Agency Head

Romania still has oil and natural gas reserves for about 15 years, while its coal reserves may ensure domestic consumption for 30 years, the National Mineral Resources Agency ANRM head said Tuesday.
Romania Has Oil&Gas Reserves For 15 Years - Agency Head
17 nov. 2009, 12:51, English

„The gas reserves are of 185 billion cubic meters, while the oil reserves stand at 74 million metric tons,” Alexandru Patruti said during the Mediafax Talks about Energy conference.

The combined natural gas output of Romania’s state-run gas producer Romgaz and of the country’s largest oil company Petrom (SNP.RO) amounts to 12 billion cubic meters a year.

Also, Petrom annually extracts around five million tons of oil.

Patruti said the hard coal reserves amount to 755 million tons, but only 100 million tons are economically recoverable. At an annual output of 3 million tons, the hard coal reserves would ensure the next 30 years’ consumption.

The agency head did not provide details on Romania’s uranium reserves, but said the resources would cover until 2017 the consumption of the country’s sole nuclear power plant in Cernavoda.

The power plant currently has two 700-megawatt reactors, which provide around 18% of the country’s electricity needs, while another two similar reactors are scheduled to become operational by 2015-2016, after investments estimated at EUR4 billion.