OMV Petrom, an oil and gas company, has announced a successful natural gas discovery at its Spineni site, located about 70 kilometers northeast of Craiova in southwestern Romania.
The Spineni-1 exploration well was drilled to a depth of approximately 4,800 meters. Flow tests showed a commercial output of 180,000 cubic meters of gas per day, along with 25 cubic meters of condensate, equivalent to around 1,300 barrels of oil equivalent daily.
This discovery follows a comprehensive 3D seismic survey conducted in 2022 over the X Craiova exploration block, which first indicated the reservoir’s potential. With test results confirming its commercial viability, OMV Petrom will now seek regulatory approval for its development plan.
During exploration, the company invested about 15 million euros. For 2025, OMV Petrom plans to invest 1.16 billion euros in exploration and production, with nearly half allocated to onshore activities. Concurrently, work continues on the offshore Neptun Deep project, a capital-intensive effort focused on extending the life of mature fields and accessing adjacent reserves.
In 2024, OMV Petrom produced roughly 40 million barrels of oil equivalent and refined 4.5 million tons of crude annually.
At the end of 2024, Romanian investors owned over 44% of OMV Petrom’s shares: 20.7% held by the state through the Ministry of Energy, 23.7% by domestic pension funds, alongside nearly half a million individual and institutional shareholders.
