Falling demand for both fuel and gas will also create an unprecedented difficult environment for oil exploration and production activities. Wells will have to be shut down with a possible subsequent impact on their restart. For both oil and gas wells, recovering production levels is a costly and lengthy process, with potentially unsuccessful attempts and a total duration that can exceed 4-6 months.
The difficult economic context is preventing drilling campaigns from continuing as originally planned, as well as other major projects, thus limiting or postponing additional oil and gas to be produced in the future.
As far as international trade in fuel and gas is concerned, this context, at least until 2022, is expected to be extremely challenging, dominated by major companies backed by states with substantial economic power, so that access to markets for Romanian producers will be extremely limited.
Industry recognizes shared responsibility in managing the health crisis and is ready to contribute in a constructive way, and cooperation between all actors in society is the key to ensuring the sustainability and fairness of the measures taken.
