Report summaryRomania 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 ...
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