Country report
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33 Pages

Romania upstream summary

Romania upstream summary

Report summary

Romania is a mature hydrocarbon province. Oil production commenced in the mid-19th century and peaked at 300,000 b/d in the mid-1970s. Gas production began in the early 20th century, peaking in 1985 at 3.4 bcf/d. After the fall of Communism in 1989 and the restructuring of the Romanian economy, oil and gas production went into decline as the upstream industry suffered from years of under-investment. Production and exploration acreage is dominated by OMV Petrom and Romgaz, which hold ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.61 MB 33 Pages, 8 Tables, 13 Figures
  • Country Overview XLS - 291.50 KB


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
  • Geology
    • Geology Introduction
    • Hydrocarbon Provinces
      • External Eastern/Southern Carpathians
      • Transylvanian Basin
      • The Foreland Basins
      • The Pannonian Basin
      • The Black Sea
      • Coalbed Methane
  • Exploration
    • Licensing
      • Foreign participation
      • Marginal fields
      • Service Contract Areas
      • 10th licensing round
      • 11th licensing round
    • Drilling
      • Drilling activity
      • Coalbed methane
      • Shale gas
      • Success rates
      • Future drilling plans
  • Reserves and resources
  • Production
    • Oil/liquids
      • Pre-1939
      • Post-1945
      • Quality
    • Gas
  • Infrastructure
    • Oil infrastructure
    • Gas infrastructure
      • Existing import and transit pipelines
      • Interconnect pipelines
      • Future pipelines
      • Storage
      • LNG
  • Costs
    • Introduction
    • Capital costs
      • Capital expenditure by location
    • Operating costs
      • Operating expenditure by location
  • Policy and regulation
    • Key legislation
      • Access to data and information
      • EU Membership
    • Regulatory body
    • State oil company
    • State participation
    • Licensing
  • Fiscal terms
    • Overview
      • Upstream
      • Mid/Downstream
    • Current fiscal terms
      • Bonuses, rentals and fees
      • Indirect taxes
      • Royalty and other production taxes
      • Corporate (or Petroleum) Income Tax
      • Sample Cash Flow
    • Historical background

In this report there are 21 tables or charts, including:

  • Executive summary
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Romania Map
  • Key companies
    • Remaining Commercial and Technical Reserves at 01/01/2016
    • Liquids and Gas Production 2015
    • Net Acreage 2016
  • Geology
    • Romania Basin Map
  • Exploration
    • Licensed blocks in Romania
    • 10th Round winners
  • Reserves and resources
    • Reserves and resources: Table 1
  • Production
    • Production: Table 1
    • Production: Table 2
    • Romania Liquids Production
    • Production: Table 3
    • Production: Table 4
    • Romania Gas Production
  • Infrastructure
    • Oil Infrastructure Map
    • Gas Infrastructure Map
  • Costs
    • Capital Expenditure by Region (US$ Million)
    • Operating Expenditure by Region (US$ Million)
  • Policy and regulation
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
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