Serinus confirms the start of gas production at Moftinu

Serinus Energy announced on Friday that production has commenced at the Moftinu Gas Plant in Romania.

The AIM-traded firm said gas from the Moftinu 1003 production well had been flowed through the gas plant into the sales gas pipeline.

It said the processed gas met the water dew point and hydrocarbon dew point specifications set by the Romanian National Gas Transportation Company, Transgaz.

Serinus would now follow a conventional startup program, whereby production parameters and plant performance would be stabilised, after which gas from the Moftinu 1007 well would also be brought onto production and flowed through the gas plant.

During the startup and stabilisation period, gas would be sold on a daily basis.

Following the start-up period, and once gas volumes were more regular, gas would be sold on a monthly basis as per the previously-announced gas sales agreement.

“This is an extremely important milestone for Serinus,” said chief executive officer Jeffrey Auld.

“Gas production, plant operation and the resulting sales of processed gas will be transformative for Serinus and the Moftinu region.

“The company is proud of the efforts that its staff and the team at our Romanian EPC contractor have put into this project to achieve this milestone.”