about us | newsletter | contact | archive | members area
"The effects of consumption-based growth due to wage increases are not sustainable"
Sebastian Metz, AHK Romania»
  News:      POLITICS   |   ECONOMICS   |   ENERGY   |   INVESTMENTS   |   APPOINTMENTS   |   GREEN   |   INFRASTRUCTURE   |   REAL ESTATE   |   AGRIBUSINESS   |   DRIVING   |   CITY LIFE   |   EVENTS   |

ExxonMobil and OMV Petrom to start drilling in the Black Sea

In early July, the American- based company ExxonMobil Exploration and Production in Romania and OMV Petrom, part of the Austrian OMV Petrom group, jointly announced the beginning of drilling in deep water of the Neptun block in the Romanian part of the Black Sea, where the two companies had discovered gas in 2012, according to Agerpres

2014-08-09 00:19:03 - From the Print Edition

The new drill called Domino-2 is located about 200 kilometres offshore, in water depth of about 800 meters. The data collected during the drilling program will be used to assess the size and the commercial viability of the gas deposit discovered by the Domino-1 exploration drill in 2012, according to the release by both companies.
"We are committed to investing significantly in the exploration, development and production of hydrocarbons in order to provide domestic resources of oil and gas to Romania," said Gabriel Selischi, OMV Petrom Executive Board member, responsible for Exploration and Production, quoted by Hotnews. "We will use our 40 years of experience in the shallow waters of the Black Sea to contribute to the success of a pioneering project and Neptune Deep," he added.
Both companies announced in February 2012 that they had made a significant gas discovery based on the Domino-1 drill, preliminary estimates placing the deposit of natural gas at 42-84 billion cubic meters. ExxonMobil and OMV Petrom hold 50 per cent each of the deep water Neptun block, after signing a mutual agreement in which ExxonMobil has acquired a 50 per cent stake in the deep water block. Petrom has said several times that the extraction of gas in the Black Sea is planned for the end of the decade.



COMMENTS
There are 0 comments:

 
ADD A COMMENT
 
Name
Email
Comment
Validation Code
   
 
 

0 Comments  |  5451 Views
Daily Info
AFI Europe Romania posts net operating income of over 37 million Euro in the first nine months

AFI Europe Romania published its financial results, with the net operating income from its income producing assets in Romania of over 37 million Euro in the first nine months ...

Openville Timisoara to open in the fourth quarter of 2018

The Openville Timisoara development, the largest mixed-use project in the west of Romania will be opened in the fourth quarter of next year, upon completion of the first phase...

URBB posts record production figure in 2017

United Romanian Breweries Bereprod (URBB) registered a record production figure exceeding two million hectolitres for the period January-November 2017, representing a 10 per c...

Cristian Busu has been reappointed president of Electrica's board

Cristian Busu has been reappointed president of Electrica board, the electric energy supplier. He is a member of the board since 2014 and was chosen in this position during th...

Transelectrica inaugurated the Campia Turzii station, fully refurbished with 9 million Euro

Transelectrica inaugurated the 220/110/20 kV Campia Turzii (Cluj County) electricity station, after an investment of about 42 million RON (9 million Euro).

 
 
   
advertising

advertising

advertising

advertising

advertising

advertising

advertising

More on News
Minister Negrescu: Romania is profoundly pro-European, we will be even more significant after Brexit completion

Minister Delegate for European Affairs Victor Negrescu said on Thursday that Romania is a profoundly pro-European state and will become more significant after the Brexit pr...

Iohannis: A significant delay in tax measures would be required

President Klaus Iohannis said that a significant delay in the amendments to the tax legislation would be required, adding that the January 1, 2018 deadline for their applic...

Dragnea: Amendments to the tax code, code of tax procedure to pass under government ordinance

Amendments to the tax code and the code of tax procedure will pass under a government ordinance and will be unveiled after the government meeting, national leader of the So...

Iohannis: Romania has made progress with equal opportunities, needs to speed up gap bridging

Romania's President Klaus Iohannis said that although important progress has been made in Romania in terms of gender equality, the country needs to speed up bridging the ga...

PM Tudose: We will shortly come up with new form of split VAT collection

A new form of split VAT collection, which will respond to the requests made in this period by business representatives, will be presented shortly, Prime Minister Mihai Tudo...

Iohannis: Advanced presence on Eastern Flank must be reinforced, especially in Black Sea

President Klaus Iohannis stated on Monday that the advanced presence on NATO's Eastern Flank must be reinforced.

MAE requests Ukraine to adopt necessary measures so that Romanians learn in their mother tongue

The Foreign Affairs Ministry (MAE) announced that it will continue to take steps with the international authorities to signal the negative impact of the legislative amendme...