Oil and gas Industry – Proposed measures for economic recovery

The decrease in demand for both fuels and gas will create an unprecedented difficult environment for Upstream activities as well. Wells will need to be shut down with potential later impact on restart. In both oil and gas wells cases recovery of production level is a costly and time-consuming process with potentially unsuccessful trials and overall duration that may exceed 4-6 months.

The difficult economic context is preventing the continuation of drilling campaign as initially planned as well as other important projects thus limiting or delaying the additional oil and gas volumes to be produced in the future.

In terms of international marketing of fuel and gas, the context, at least until 2022, is expected to be extremely challenging, dominated by major companies supported by the states with dominating economic power thus, access to markets of Romanian producers will be extremely limited.

The industry recognizes the shared responsibility in managing the health crisis and is ready to contribute in a constructive way. Cooperation between all actors in society is the key to ensuring the sustainability and fairness of the measures taken.

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