Petrom, the largest local company, shall start the works for the second exploration well at high depth from the Black Sea towards the end of the second term of next year. Even if the messages of the executives from Romania are quite cautious in terms of the offshore potential, at Vienna, at the OMV central head office, the majority shareholder of Petrom states that the development strategy at the group level is based, for the most part on the success of the operations from the depths of the Black Sea.
„Our enthusiasm in terms of the Black Sea is quite real. We expect Domino to start production in 2020. The works for the second well shall start at the end of the second term of 2014. There can be more wells, but I can’t tell you how many in this moment“, stated Jaap Huijskes, member of OMV directorate, responsible for the exploration and production department, the division that will attract most of the investment funds in the years to come.
Petrom and Exxon Mobil giant made the announcement that they discovered in the Black Sea, in Neptun area, a storage of natural gas of 42-84 milliards m3, that would cover the current consumption of Romania for a period of 4 years.
Ziarul Financiar
Translated by
Silktrans