Serinus Energy lets contract for Moftinu gas plant

Winstar Satu Mare SA, a subsidiary of Calgary-based Serinus Energy Inc. (formerly Winstar Resources Ltd.), has let a contract to Confind SRL to build a natural gas processing plant intended to accommodate first production from the Moftinu gas development project on the Satu Mare concession in northwestern Romania’s Pannonian basin, along the borders with Hungary and Ukraine.

Winstar Satu Mare SA, a subsidiary of Calgary-based Serinus Energy Inc. (formerly Winstar Resources Ltd.), has let a contract to Confind SRL to build a natural gas processing plant intended to accommodate first production from the Moftinu gas development project on the Satu Mare concession in northwestern Romania’s Pannonian basin, along the borders with Hungary and Ukraine (OGJ Online, Sept. 12, 2012).

Confind will provide engineering, procurement, construction, and commissioning (EPCC) for a 15-MMcfd gas processing plant, associated flow lines, and pipelines linking to gas discovery wells Moftinu-1001 and Moftinu-1000, which are scheduled to begin production in first-quarter 2018, Serinus said.

A value of the EPPC contract was not disclosed.

In its 2016 annual report, Serinus said it also plans to drill three additional development wells—Moftinu-1003, 1004, and 1005—in 2018, the potential production from which should bring the new gas plant to full capacity by yearend 2018.

Serinus currently holds a 60% interest in Satu Mare, with KMG International subsidiary Rompetrol—which currently is in a tax dispute with the Romanian government and unable to participate in its share of capital spending in the concession—holding the remaining 40% interest.

Contact Robert Brelsford at rbrelsford@ogjonline.com.

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