Canadian oil and gas company East West Petroleum, which operates EX-7 Periam block with Serbian NIS Petrol, said that the Teremia 1000 well in western Romania could be a potential future oil producer.
The press release from the company said that a decision regarding the commercial viability of the oil deposit is expected to be taken when the results of future appraisal wells are known. In addition, as flaring of gas in Romania is forbidden, any oil production will require a technical solution for the use of associated gas together with acquiring the necessary permits and approvals for the infrastructure and facilities.
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Tags: East West Petroleum, exploration, gas, NIS Petrol, oil, Periam, Romania