“Given the abundance of undiscovered onshore gas resources in Romania, it is baffling that the Government of Romania has not changed its policies to encourage gas producers to increase their investment in the exploration and development of these resources. Given the right policies that would encourage increased investment in the development of onshore gas resources, Romanian gas production could grow to the point of not only eliminating the need to import Russian gas, but production could increase to the point of being able to export much needed gas to the rest of Europe, further reducing European demand for Russian imports and increasing European energy security,” Alexandra Damascan, president of Serinus Energy Romania told The Diplomat-Bucharest.
“Serinus Energy Romania is a small gas producer in the onshore Romanian gas market that is dominated by two large gas producers, Romgas and OMV Petrom who together account for around 95 percent of onshore gas production. This high concentration of gas production among only two gas producers does not reflect a competitive market. As a small producer, we must allocate our capital carefully to prospects and projects that we feel will earn an economic return given the risks. The company is proud that all of Serinus Energy Romania employees are Romanian citizens. We are very grateful for the incredible talents of our Romanian staff. While the company can be viewed as a foreign investor, we operate as a Romanian company.”
Serinus Energy plc (LON:SENX) is an international oil company with operations in Romania and Tunisia. The focus of the Company is to enhance shareholder value by growing oil and gas production through the efficient allocation of capital.
