The visit is part of the Energy Ministry’s intention to start a geological reassessment of the fields and subsoil potential in the south of the country, the ministry said in a statement. The possibility of conducting a new geological study and, possibly, additional exploratory drilling is analyzed in order to determine whether there are grounds for expanding oil and gas production in Moldova.
How much oil and gas Moldova has of its own
The Valeni field is the only known and developed oil field in the country. The first exploration and drilling operations began in the 1950s, with commercial production in 1956. Subsequently, activity was reduced due to the development of large oil fields in Siberia.
After the expiration of the concession agreement in 2020, the assets passed into state ownership in 2023. In June 2024, the Ministry of Environment signed contracts with Moldavian Hydrogeological Expeditionary State Enterprise for geological research and development of the Veleni oil field and Victorovka gas fields.
Over the last two years, an inventory and technical assessment of the existing infrastructure, verification of the quality of the produced oil together with specialized laboratories and companies from Romania, as well as modernization of some sections of the infrastructure have been carried out.
At present, 18 oil extraction pumps operate daily at the Veleni field, and the production volume reaches approximately 300 tons of oil per month.
In addition, the Victorovka field produces approximately 10 thousand cubic meters of natural gas per month, which is sold to a licensed local operator.
Re-evaluation and investment needed
“The Republic of Moldova has long been perceived as a country without its own hydrocarbon resources. However, the presence of the Văleni and Victorovca fields shows that our country’s subsoil remains under-explored. It is important to realistically assess this potential and understand whether there are viable opportunities to develop it using modern technology and current standards of geological exploration. We are not talking about oil independence, but any efficiently exploited local production means increased energy security, development of production skills and economic activity for Moldova,” said Energy Minister Dorin Jungietu.
The Energy Ministry intends to carry out a technical reassessment of the existing wells and develop a feasibility study on geological research and subsequent exploitation of the fields. At the same time, the authorities will analyze the possibilities of attracting the necessary investments and specialists to continue oil and gas exploration in the south of Moldova.
