Australia's Zeta Petroleum has unveiled plans to spud the Bobocu 310 appraisal well in Romania later this month.
The company said it has received all government approvals and environmental permits and has recently awarded the drilling contract to TM Drilling and logging contract to Schlumberger.
The Bobocu 310 well will be drilled to a depth of 2,700m and target a contingent gas resource of 44 billion cubic feet and a prospective resource of 14 billion cubic feet.
The well is expected to take 30 days to reach total depth, and logging and testing operations will be completed in a further ten days.
The Bobocu gasfield, located to the north of the Buzau valley, 20km north-east of Buzau and 110km north-east of Bucharest, was shutdown in 1995 due to sand production, poor completion practices and a general poor understanding of the field.
Zeta Petroleum managing director Stephen West said, "We have spent a number of years de-risking the field through desk-based studies and 3D seismic and the project is now ripe for drilling".
The company intends to employ modern drilling techniques when drilling new development wells, as well as undertaking workovers of existing wells to bring the field back into production.
Zeta Petroleum, which acquired a 100% stake in Bobocu gasfield in 2007, and carried out extensive data gathering, collation and review exercise, and geological modeling including a 75km² of 3D seismic survey in 2010.