OMV Petrom announce oil discovery in the Black Sea

OMV Petrom announce oil discovery in the Black Sea

OMV Petrom, the largest oil and gas producer in Southeastern Europe, announces successful drilling of an exploration well offshore in Istria XVIII perimeter (shallow). Marina 1 probe identified an oil reservoir in the Black Sea continental shelf.
“The Black Sea is an important area for OMV Petrom, an area where there is still potential for new discoveries. Currently, production from the shallow Black Sea represents about 18% of the total production of oil company in Romania. We have a history of over 40 years in exploration and exploitation of hydrocarbons in the shallow area of ​​the Black Sea and we continue to invest in developing the offshore segment, “said Gabriel Selischi, OMV Petrom Executive Board member responsible for Exploration and Production.
1 exploration well was drilled Marina about 60 miles from shore, in Istria XVIII perimeter to a depth of about 2,150 meters below the seabed. In that area, the water depth is about 50 meters.
First estimates resulting from production tests indicate a potential production per well of 1500-2000 boe / d.
The costs of drilling exploration wells amounted to approx. 19 million euros. After completing the tests, Marina 1 exploration well will be cemented and abandoned.
In the coming months, OMV Petrom will evaluate the results obtained with one probe Marina to develop and put into production the reservoir, where it finds its commercial viability. To exploit the deposit will be necessary to develop related infrastructure, including production drilling. Production of discovery Marina – if it is declared commercial – could start in the next 3-4 years. Investment required to develop the deposit are estimated at over 100 million.
Source:
OMV Petrom

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