The following information is an overview of the project in Romania. For more detailed and specific info please download the Claren Energy Corp Presentation

The Case for Romania

Stable EU country with proven resource, ready market & attractive commodity price environment


  • EU member, S&P country rating of BBB
  • FOREX (RON) managed against the EURO by the Romanian Central Bank
  • One of the oldest oil producing regions in the world with an experienced workforce
  • In 2015 Romania produced 33.8 Bcf per day of gas; 84,000 barrels per day of oil

    Natural Gas Market


    • Gas prices have increased from $3.97/Mcf in 2012 to an average of $5.92Mcf in 2015, $4.50/ Mcf in 2016; in line with imported LNG prices

Fiscal System

  • Attractive fiscal regime
  • 16% at tax rate
  • 5% average royalties (deductible)

Recent Developments 

Private Equity & IOC Activity

  • October 2016 – Carlyle backed Mazarine Energy announced acquisition of 19 onshore elds from OMV Petrom for an undisclosed amount
  • May 2016 – Carlyle announced an investment in Mazarine Energy and commitment of $500Mm via an Equity Line for additional “bolt on” acquisitions primarily focused on Romania
  • March 2015 – Carlyle announced the acquisition of Romanian focused Sterling Resources (subsequently renamed to Black Sea Oil & Gas)
  • February 2012, 1+Tcf Domino discovery by Exxon Mobil / Petrom, believed to have been successfully followed up / appraised by Domino 2 and Pelican South 1 wells; nearby Romgaz/ Lukoil Lira-1x discovery

Key Topography at Bobocu

  • The Bobocu gas field is comprised of 25km2 (6,200 acres), situated in the foreland basin of the Carpathians about 150 km NE of Bucharest
  • Discovered by Romgaz in 1966; discovery well tested 2.5 MMscf/day (0.76 MMcm/day)
  • Initial production 1977 to June 1995; second phase production December 2000 to November 2001
  • Total production 33 Bcf (10.4 Bcm) from 15 wells
  • The field was discovered and developed soley on 2D seismic data; Claren’s partner has acquired 75km2 (18,532 acres) of 3D over the eld, which has been processed
  • Proximity to Key Infrastructure: The gas field has a 10 inch pipeline connecting to the high-pressure national grid

The Bobocu Gas Field Overview:
Onshore Romania:

A proven resource with access to infrastructure

Well-head “Christmas Tree” at Bobocu-310.

MR 8000 drilling rig to be utilized for the Bobocu-310 side-track well

Bobocu Geological Overview

  • Geologically, the Bobocu field lies on the northeast part of the Moesian Platform, near the margin of the Focsani Basin.
  • This represents the deepest part of the entire Romanian outer Carpathian Neogene foreland basin and is locally 6000m thick.

Key Infrastructure In Place

In-place infrastructure expected to quickly transition drill success to cash flow

Gas Infrastructure Network in Romania

  • The national natural gas transmission system in Romania is owned by Transgaz a state owned company. It has a total network length of 13,110 km of pipelines with diameters between 50 mm (2.0 in) and 1,200 mm (47 in)
  • Additional infrastructure includes the Arad–Szeged pipeline, a natural gas pipeline from Arad in Romania to Szeged in Hungary, with a length of 109 km and a transport capacity of 4.4 billion cubic meters (0.15 Tcf ) per year
  • Romania also has four other pipeline links to Ukraine used for the import or transit of natural gas


• The gas field has a 10 inch pipeline connecting to the high-pressure national grid

For more detailed and specific info on the project in Romania please  Download the Claren Energy Corp Presentation

Claren Energy Corp


151 Yonge Street, 11th Floor,

Toronto, Ontario,

Canada M5C 2W7

Claren Energy Corp


151 Yonge Street, 11th Floor,

Toronto, Ontario,

Canada M5C 2W7

Sign Up To Receive The Latest News

Sign Up To Receive The Latest News