Sedimentary basins are covered at a rate of 10% with modern 3D seismic technology, Artur Stratan, President of the Romanian Petroleum Exploration and Production Companies Association, stated during a specialized conference.
"Prospectiuni has conducted a study. The figures could shock a bit. The company reached the conclusion that only 10% of the total area of sedimentary basins in Romania is covered with modern technology, i.e.
3D seismic surveys. For 2015, the figure is very difficult to believe. The North Sea, for example, is covered entirely, 100%, with modern technology. There are some areas, blocks, where they were covered at a rate of 130%, because the technology evolves from one year to the other and the technology from 2 years ago maybe is not so performing as that developed this year.
There are companies that invest, make new seismic acquisition, to discover new hydrocarbon accumulations", Stratan said. According to him, Romania needs billions of dollars to unleash the potential of hydrocarbons, Agerpres reports.
"So from 130% to 10% you can see what great difference it is and how many billions of dollars would be required by this country to unleash Romania's hydrocarbon potential. It will not happen if we fail to create a proper fiscal framework so as to attract foreign investments", ROPEPCA official also stated.
Source: Bizenergy, October 28th
Translation by Romaniascout