New gas discovery in the Suceava area

Raffles Energy Ltd., wholly owned subsidiary of Raffles Energy Group, recently announced the discovery of new natural gas accumulations in the concession EIV-1 Suceava (Raffles 50 percent and the operator Zeta Petroleum 50 percent), in north-eastern Romania. Ruda-1 drill, which followed an area with similar perspectives to that of Climauti gas deposit, has been drilled to a depth of approximately 600 meters. Conventional natural gas (containing over 98 percent methane) was found in a high quality grit stone reservoir in the Sarmatian sequence, which was tested at a rate of over 25,000 cubic meters per day with the 12 mm nozzle. Ruda-1 was completed as a production well and was put in conservation. It is planned to connect this new accumulations to the gas processing plant operated by Raffles in Bilca, through a pipeline of about 750 meters connected to the existing pipeline between the Climauti deposit and Bilca. The Ruda discovery is expected to start experimental production in Q2 this year. Doru Morariu, executive director with Raffles Energy Group, says the discovery of gas in Ruda offers a good opportunity for additional production to meet the local short-term natural gas consumption needs. “We are pleased to announce the discovery of new gas accumulations in the concession EIV-1 Suceava. This reconfirms the hydrocarbon potential of the Suceava perimeter, with evidence of the presence of modest conventional natural gas accumulations in the Sarmatian sequence located at depths between 500 metres and 1,000 metres. In the coming period, Raffles intends to continue the exploration activities in the concession EIV-1 Suceava, on the basis of a work program approved by the National Agency for Mineral Resources. The schedule of petroleum operations program is focused on complex evaluation through geological and geophysical methods of the prospective areas for gas accumulations in order to select the best locations to be explored by drilling,” Doru Morariu added.

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February 2015

June 2017