Overview:

Summary

This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in Romania. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the natural gas assets (gas fields, pipelines and underground gas storage facilities) in Romania. The report compares the investment environment in Romania with other countries in the region. The profiles of the major companies operating in the natural gas sector in Romania together with the latest news and deals are also included in the report.

Scope

- Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 2000-2020.
- Historical and forecast data and information for all the major gas fields, pipelines and underground gas storage facilities in Romania for the period 2000-2015.
- Operator and equity details for major natural gas assets in Romania.
- Key information relating to market regulations, key energy assets and the key companies operating in the Romania’s energy industry.
- Information on the top companies in the Romania including business description, strategic analysis, and financial information.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.

Reasons to buy

- Gain a strong understanding of the country’s energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Assess your competitor’s major natural gas assets and their performance.
- Analyze the latest news and financial deals in the gas sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in the country."

Companies Mentioned

OMV Petrom SA
Exxon Mobil Corporation
LUKOIL Oil Company

1 Table Of Contents 2
1.1 List of Tables 7
1.2 List of Figures 9
2 Romania Energy Sector 10
2.1 Romania Energy Sector, Market Overview 10
2.2 Romania Energy Sector, Natural Gas 11
2.2.1 Romania Natural Gas, Overview 11
2.2.2 Romania Natural Gas, Supply and Demand Balance 11
2.2.3 Romania Natural Gas, Regulatory Structure 17
2.2.4 Romania Natural Gas, Infrastructure 18
3 Romania Gas Upstream Investment Environment Benchmarking 19
3.1 Introduction 19
3.2 The Overall Ranking 19
3.3 Upstream Fiscal Attractiveness 19
3.3.1 Maximum Government Take Index 21
3.3.2 Maximum State Participation 21
3.4 Gas Sector Performance 21
3.4.1 Exploration Activity 23
3.4.2 Gas Production 24
3.4.3 Gas Reserves 24
3.4.4 Gas Consumption 24
3.5 Economic Performance 25
3.5.1 GDP Growth Index 26
3.5.2 FDI Confidence Index 26
3.5.3 Balance of Trade Index 27
3.6 Socio-Political Performance 27
3.6.1 Democracy Index 28
3.6.2 Governance Index 28
4 Romania, Exploration And Production Sector 29
4.1 Romania Exploration and Production Sector, Country Snapshot 29
4.1.1 Romania Exploration and Production Sector, Key Data 29
4.1.2 Romania Exploration And Production Sector, Natural Gas Assets Map 29
4.2 Romania Exploration and Production Sector, Marketed Natural Gas Production 30
4.2.1 Romania Exploration and Production Sector, Total Marketed Natural Gas-Historical Production 30
4.2.2 Romania Exploration and Production Sector, Marketed Natural Gas-Historical Production by Type 31
4.2.3 Romania Exploration and Production Sector, Marketed Natural Gas Production by Assets 32
4.2.4 Romania Exploration and Production Sector, Marketed Equity Weighted Natural Gas Production by Company 32
4.2.5 Romania Exploration and Production Sector, Market Share (%) based on Marketed Natural Gas Production 33
4.3 Romania Exploration and Production Sector, Marketed Natural Gas Forecasts 34
4.3.1 Romania Exploration and Production Sector, Marketed Natural Gas Production Forecast 34
4.4 Romania Exploration and Production Sector, Major Gas Discoveries 35
4.4.1 Romania Exploration and Production Sector, Number of Gas Discoveries 35
4.4.2 Romania Exploration and Production Sector, Gas Discovery Details 36
4.5 Romania Exploration and Production Sector, Recent Discoveries 36
4.5.1 Jun 07, 2010: Aurelian Oil & Gas Encounters Gas Bearing Reservior At Climauti-1 Well In Suceava Block, Romania 36
4.6 Romania Exploration and Production Sector, Drilling and Production Updates 37
4.6.1 Nov 10, 2010: Europa Oil & Gas Updates On Barchiz-1 Well In Romania 37
4.6.2 Nov 09, 2010: ZETA Petroleum Spuds Jimbolia-1ST Well In Romania 37
4.6.3 Nov 01, 2010: Europa Oil & Gas Updates On Barchiz-1 Exploration Well In Romania 37
5 Romania Pipeline Sector 38
5.1 Romania Pipeline Sector, Key Data 38
5.2 Romania Pipeline Sector, An Overview 38
5.3 Romania Pipeline Sector, Comparison of Key Natural Gas Pipeline Companies 38
5.4 Romania Pipeline Sector, Natural Gas Pipelines 39
6 Romania Underground Gas Storage Sector 40
6.1 Romania Underground Gas Storage Sector, Key Data 40
6.2 Romania Underground Gas Storage Sector, An Overview 40
6.3 Romania Underground Gas Storage Sector, Capacity-Wise Market Share by Company 40
6.4 Romania Underground Gas Storage Sector, Storage Capacity 41
6.4.1 Romania Underground Gas Storage Sector, Storage Capacity of Active Terminals 41
6.4.2 Romania Underground Gas Storage Sector, Storage Capacity of Planned Terminals 41
7 Profile of OMV Petrom SA 42
7.1 OMV Petrom SA, Key Information 42
7.2 OMV Petrom SA, Company Overview 42
7.3 OMV Petrom SA, Business Description 42
8 Profile of Exxon Mobil Corporation 44
8.1 Exxon Mobil Corporation, Key Information 44
8.2 Exxon Mobil Corporation, Company Overview 44
8.3 Exxon Mobil Corporation, Business Description 44
8.3.1 Business Overview 44
8.3.2 Chemical 45
8.3.3 Downstream 45
8.3.4 Upstream 46
8.4 Exxon Mobil Corporation, SWOT Analysis 47
8.4.1 Overview 47
8.4.2 Exxon Mobil Corporation, Strengths 48
8.4.3 Exxon Mobil Corporation, Weaknesses 50
8.4.4 Exxon Mobil Corporation, Opportunities 51
8.4.5 Exxon Mobil Corporation, Threats 52
9 Profile of LUKOIL Oil Company 54
9.1 LUKOIL Oil Company, Key Information 54
9.2 LUKOIL Oil Company, Company Overview 54
9.3 LUKOIL Oil Company, Business Description 54
9.3.1 Business Overview 54
9.3.2 Chemicals 55
9.3.3 Exploration and Production 55
9.3.4 Others 55
9.3.5 Power Generation 56
9.3.6 Refining, Marketing and Distribution 56
9.4 Lukoil Oil Company, SWOT Analysis 57
9.4.1 Overview 57
9.4.2 LUKOIL Oil Company Strengths 58
9.4.3 LUKOIL Oil Company Weaknesses 59
9.4.4 LUKOIL Oil Company Opportunities 60
9.4.5 LUKOIL Oil Company Threats 61
10 Financial Deals Landscape 63
10.1 Detailed Deal Summary 63
10.1.1 Private Equity 63
10.1.2 Equity Offerings 64
10.1.3 Partnerships 69
10.1.4 Asset Transactions 71
11 Recent Developments 80
11.1 License Rounds 80
11.1.1 Jul 07, 2010: Romania Grants 20 Oil And Gas Exploration Licenses 80
11.2 License Awards 80
11.2.1 Apr 20, 2011: MOL Signs Concession Agreements With Romania For Three Exploration Blocks 80
11.2.2 Mar 10, 2011: Melrose Resources Announces Signing Of Romanian Concession Agreements 81
11.2.3 Feb 24, 2011: LUKOIL And Vanco Sign Agreements For Two Offshore Blocks In Romania 81
11.2.4 Jan 31, 2011: ADX Energy Signs Concession Agreement For Romanian Exploration Block 82
11.3 Strategy and Business Expansion 82
11.3.1 Dec 02, 2010: Petrom Inaugurates New Headquarters 82
11.4 Financial Announcements 83
11.4.1 Nov 11, 2010: Rompetrol Reports Consolidated Turnover of $953 million In Q3 2010 83
11.5 Other Significant Developments 83
11.5.1 May 02, 2011: Sterling Resources Files Notice Of Default Over License Assignments On Its Offshore Licenses In Romania 83
11.5.2 May 02, 2011: MOL Romania Names Kinga Agnes Daradics As New CEO 84
11.5.3 Mar 29, 2011: Europa Oil & Gas Provides Operations Update 84
11.5.4 Mar 25, 2011: Petrom To Permanently Close Arpechim Refinery In Romania 86
11.5.5 Mar 21, 2011: Oracle Energy Announces Update On Romanian Oil And Gas Projects 87
11.5.6 Mar 01, 2011: Europa Oil & Gas Provides Operations Update 87
11.5.7 Feb 28, 2011: Europa Oil & Gas Provides Operations Update 88
11.5.8 Feb 25, 2011: Melrose Resources Provides 2010 Year-End Production And Operations Update 89
11.5.9 Feb 09, 2011: HOCR Announces London Office Relocation To Romania 92
11.5.10 Feb 04, 2011: Aurelian Oil & Gas Announces Romanian Operations Update 92
11.5.11 Dec 23, 2010: Aurelian Oil & Gas Provides Operations Update 93
11.5.12 Dec 14, 2010: Europa Oil & Gas Provides Operations Update 95
11.5.13 Dec 08, 2010: Europa Oil & Gas Updates On Barchiz-1 Well In Romania 96
11.5.14 Dec 07, 2010: Petrom Officially Inaugurates Hurezani Gas Delivery System 96
12 Appendix 98
12.1 Abbreviations 98
12.2 Methodology 98
12.2.1 Coverage 98
12.2.2 Secondary Research 99
12.2.3 Primary Research 99
12.2.4 Expert Panel Validation 99
12.3 Contact Us 100
12.4 Disclaimer 100"

1.1 List of Tables
Table 1: Romania, Historical and Forecast Production and Consumption of Natural Gas, Billion Cubic Feet, 2000-2020 12
Table 2: Romania, Historical and Forecasted Imports of Natural Gas, Billion Cubic Feet, 2000-2020 14
Table 3: Romania, Historical Reserves of Natural Gas, Trillion Cubic Feet, 2000-2010 16
Table 4: Eastern Europe, Investment Benchmarking, Overall Country Rankings, May 2011 19
Table 5: Eastern Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, May 2011 20
Table 6: Eastern Europe, Investment Benchmarking, Gas Sector Performance, May 2011 21
Table 7: Eastern Europe, Investment Benchmarking, Economic Performance, May 2011 25
Table 8: Eastern Europe, Country Standings, Economic Performance, May 2011 25
Table 9: Eastern Europe, Investment Benchmarking, Socio-Political Performance, May 2011 27
Table 10: Eastern Europe, Country Standings, Socio-Political Performance, May 2011 27
Table 11: Romania, Natural Gas Key Statistics, 2010 29
Table 12: Romania, Total Marketed Natural Gas Production (MMcf), 2003-2010 30
Table 13: Romania, Marketed Natural Gas Production by Type (MMcf), 2003-2010 31
Table 14: Romania, Marketed Natural Gas Production (MMcf), by Assets, 2003-2010 32
Table 15: Romania, Marketed Equity Weighted Natural Gas Production (MMcf), by Company, 2003-2010 32
Table 16: Romania, Market Share (%) of Key Companies based on Marketed Natural Gas Production, 2003-2010 33
Table 17: Romania, Marketed Natural Gas Production Forecast by Assets (MMcf), 2011-2015 34
Table 18: Romania, Number of Gas Discoveries, 2005-2010 35
Table 19: Romania, Gas Discovery Details, 2005-2010 36
Table 20: Romania, Pipeline Key Statistics, May 2011 38
Table 21: Romania, Natural Gas Pipeline Length by Company (Km), May 2011 38
Table 22: Romania, Natural Gas Pipelines, May 2011 39
Table 23: Romania, Underground Gas Storage Key Statistics, May 2011 40
Table 24: Romania, Underground Gas Storage Capacity by Company (MMcf), May 2011 40
Table 25: Romania, Active Underground Gas Storage Capacity (MMcf), May 2011 41
Table 26: Romania, Planned Underground Gas Storage Capacity (MMcf), May 2011 41
Table 27: OMV Petrom SA, Key Facts 42
Table 28: Exxon Mobil Corporation, Key Facts 44
Table 29: Exxon Mobil Corporation, SWOT Analysis 48
Table 30: LUKOIL Oil Company, Key Facts 54
Table 31: LUKOIL Oil Company, SWOT Analysis 58
Table 32: Lime Rock Partners To Invest In $25 Million In Expert Petroleum 63
Table 33: Petrom Plans To Raise $740 Million 64
Table 34: Aurelian Oil & Gas Completes Private Placement Of Shares For $48.96 Million 65
Table 35: Petrom Plans For Public Offering Of $1400 Million 67
Table 36: TransAtlantic Petroleum Completes Common Stock Offering For $105.29 Million 67
Table 37: Cooper Energy Forms Joint Venture With Zeta Petroleum 69
Table 38: Romgaz Plans To Form A Joint Venture With Gazprom 70
Table 39: Oltchim Plans To Acquire Arpechim Refinery From OMV Petrom 71
Table 40: Regal Petroleum Sells Barlad Concession In Romania 72
Table 41: Caspian Oil And Sibinga Petroleum Enter Farm-In Agreement With AuDAX Resources 73
Table 42: Oracle Energy And Carpathian Energy Enter Into Farm-Out Agreement With Amromco Energy 74
Table 43: Oltchim Acquires Petrochemical Activity From Petrom 75
Table 44: Aurelian To Acquire 19% Interest In Lilieci Discovery Area Bacau Concession 76
Table 45: Zeta Petroleum Sells Its 87.5% Interest In Padureni License To Expert Petroleum 77
Table 46: Toreador To Sell Romanian Assets To Lotus Petroleum 78
Table 47: Toreador Resources To Sell Viperesti Exploration Block To Amromco Energy 79"

1.2 List of Figures
Figure 1: Romania, Energy Consumption Split by Fuel Type (%), 2010 10
Figure 2: Romania, Natural Gas Production And Consumption, Billion Cubic Feet, 2000-2020 13
Figure 3: Romania, Natural Gas Imports, Billion Cubic Feet, 2000-2020 15
Figure 4: Romania, Natural Gas Reserves, Trillion Cubic Feet, 2000-2010 17
Figure 5: Eastern Europe, Country Standings, Upstream Fiscal Attractiveness, May 2011 20
Figure 6: Eastern Europe, Country Standings, Gas Sector Performance, by Reserves-Exploration & Production,  May 2011 22
Figure 7: Eastern Europe, Country Standings, Gas Sector Performance, by Production & Consumption, May 2011 23
Figure 8: Eastern Europe, Country Standings, Exploration Blocks Awarded, May 2011 24
Figure 9: Eastern Europe, Country Standings, Economic Performance, May 2011 26
Figure 10: Eastern Europe, Country Standings, Socio-Political Performance, May 2011 28
Figure 11: Romania, Natural Gas Assets Map, May 2011 29
Figure 12: Romania, Total Marketed Natural Gas Production (MMcf), 2003-2010 30
Figure 13: Romania, Marketed Natural Gas Production by Type (MMcf), 2003-2010 31
Figure 14: Romania, Marketed Equity Weighted Natural Gas Production (MMcf), by Key Companies, 2003-2010 33
Figure 15: Romania, Market Share (%) of Key Companies based on Marketed Natural Gas Production, 2010 34
Figure 16: Romania, Number of Gas Discoveries, 2005-2010 35