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Romania’s Romgaz Mulls Investing RON32M In Gas Wells Upgrade

Romgaz Medias, one of Romania’s largest gas producers, will invest 32 million lei (EUR1=RON3.6698), VAT excluded, in the upgrade of ten natural gas wells, the company said Monday.
Romania’s Romgaz Mulls Investing RON32M In Gas Wells Upgrade
26 mai 2008, 15:39, English

The upgrade works are due in six months from contract assignment.

Romgaz will assign the upgrade contract in an open bid scheduled for July 15.

The investment targets the gas deposits in Ghercesti, Bilciuresti and Balaceanca.

State-owned Romgaz is one of Romania’s major gas producers next to its largest vertically integrated oil company Petrom (SNP.RO), with an output of around 6 billion cubic meters per year, equal to nearly 50% of the country’s gas demand.