Page 14 - EurOil Week 09 2021

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said. over €214mn during the year, the company I believe that Romgaz can manage this
Meanwhile, Russia’s direct gas exports said in a statement on February 26. project,” said the energy minister.
to Finland dropped by 35% last year “Despite many challenges, NIS group He added that his ministry is working
to 15.7 TWh, from 24 TWh in 2019, recorded some €23mn net profit in the 2020 on the amendments to the Offshore Law,
Gazprom’s quarterly data, published on its second half, but unfavourable circumstances which it will first unveil to the ruling
website, showed.. in the first six months caused the company’s coalition. “Then, we will submit the bill
loss of over €65mn at the end of the year,” the to parliament and to other political forces
statement said. that want to join this project. I want
Turkey’s crude oil imports and other public revenues, were over €1.5mn, all or most political forces to join this
NIS’ calculated liabilities, including taxes
project because the gas exploitation will
down 5% y/y to 29mn while the turnover was 3.5mn tonnes of bring benefits and will make Romania a
petroleum products, and the exports grew 7%
regional player on the natural gas market,”
tonnes in 2020 compared to 2019. continued Popescu, expressing his hope
In 2020, NIS said it allocated €2.5mn for
that the new Offshore Law will be voted in
Turkey’s crude oil imports have declined 5% socially responsible projects and provided during this parliamentary session.
year on year to 29mn tonnes in 2020 from donations for Serbia’s health institutions.
31mn tonnes in 2019, according to data from “The year behind us was one of the most
energy watchdog EPDK. complexed not only in the history of NIS Neptune begins Dugong
Overall refinery production was down and the oil industry but also in the global
4% y/y to 33mn tonnes in 2020, while total economy. That is why we have taken decisive appraisal drilling
deliveries remained flat at 32mn tonnes measures to preserve NIS’ stability and
(see chart below). strengthen financial discipline, taking care Neptune Energy announced appraisal drilling
In 2020, Tupras’ (TUPRS) production all the time of the health of employees and commenced on March 1 on the Dugong
was down 17% y/y at 23mn tonnes, with consumers,” NIS CEO Kiril Tyurdenev said. discovery, one of the largest on the Norwegian
sales falling 16% y/y to 25mn tonnes in He said the company would invest over Continental Shelf in 2020.
2020. €172mn in 2021.. The well is being drilled by the Deepsea
The company, controlled by local Yantai, a semi-submersible rig owned by
conglomerate Koc Holding (KCHOL), has CIMC and operated by Odfjell Drilling.
an annual production capacity of 30mn Romgaz announces The Dugong discovery, in Production
tonnes across its four refineries, while it is License 882 in the Norwegian sector of
targeting 26-27mn tonnes of production robust profit, plans bid for the North Sea, is estimated to contain
and sales for 2021. recoverable resources between 40-120
Tupras’ only local peer, STAR Refinery ExxonMobil’s Black Sea million barrels of oil equivalent (boe),
controlled by Azerbaijan’s SOCAR, according to operator Neptune, which
increased its output to 10.5mn tonnes in perimeter holds a 45% stake in the license.
2020 from 10mn in 2019. 70% of overall “This exciting new discovery is located
10.3mn tonnes of sales were achieved in Romanian state-owned natural gas company close to existing infrastructure and has the
the domestic market. Romgaz announced that its net profit rose potential to become a new core growth
The refinery is aiming to increase its oil by 15% in 2020, despite a 14% decline in area for Neptune in Norway,” said Neptune
refining volume to 11mn tonnes per year production amid weak demand. Energy’s Managing Director in Norway,
(tpy) in 2021. “In 2020, Romgaz estimates a Odin Estensen, who added the company
According to data from the Petroleum consolidated turnover of RON4.1bn is dedicated to growing its presence in
Industry Foundation of Turkey (PETDER), (€840mn), compared to RON5.1bn in Norway.
gasoline sales in Turkey declined by 3% to 2019. The decrease was driven by 24.5% Dugong is located 158 kilometers west
3bn litres in 2020, while diesel sales were lower natural gas sales. On the other of Florø, Norway, at a water depth of
flat at 30bn litres and autogas (automotive hand, consolidated revenues from storage 330 meters, and is close to the existing
LPG) sales were down 9% y/y at 3mn services increased by 13.3% and those production facilities of the Snorre field.
tonnes. from the sale of electricity by 29.9%,” reads The reservoir lies at a depth of 3,250 -
According to EPDK, Petrol Ofisi, owned the company’s preliminary financial report. 3,400 meters.
by Switzerland-based Vitol, was the largest The preliminary net profit reported for Neptune Energy’s Director of
retailer in Turkey with a 22% market share 2020 is RON1.25bn. Subsurface in Norway, Steinar Meland,
and 6mn tonnes of sales in 2020. In separate news, Romgaz will submit said, “The main objective of the appraisal
Opet, owned by army pension fund a bid for the 50% stake held by US group well is to collect the data necessary to help
Oyak, had 19% share in the Turkish ExxonMobil in the Black Sea perimeter provide certainty related to the reservoir,
market last year while Royal Dutch Shell Neptun Deep within a couple of months, structure and recoverable resources, so the
and Turcas had 13% each, and BP had before the term of the interim CEO partnership can optimize the development
7%.ortant energy transit state,” he added.” expires, announced Energy Minister Virgil solution.
Popescu. “Data from this well will also provide
valuable information to help de-risk
Serbian oil company NIS can handle the project, located in additional exploration and development
He expressed confidence that Romgaz
opportunities in the license and in the
reported over €65mn loss in Romania’s Black Sea section. surrounding area.”
Neptune and its Dugong partners
ExxonMobil is also the project’s
2020 operator, while OMV Petrom holds the Petrolia NOCO (20%), Idemitsu Petroleum
other 50% stake.
Norge (20%) and Concedo (15%) plan to
Serbia’s state oil company Naftna industrija “I don’t know if anyone in Romania drill an exploration well in the license in
Serbije Naftna (NIS) suffered a loss of has the expertise for deepwater projects, the third quarter of 2021, targeting the
RSD7.6bn (€65.2mn) in 2020 while investing but I say we should give Romgaz a chance. Dugong Tail prospect. Neptune extended

P14 www. NEWSBASE .com Week 09 04•March•2021