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Lukoil resumes exploration in Romanian Black Sea offshore perimeter

BLACK SEA
OIL & GAS

Lukoil resumes exploration in Romanian Black Sea offshore perimeter

Russian oil group Lukoil will start the drilling of a new exploration well, Trinity-1X, in the Trident offshore hydrocarbon perimeter in the Romanian Black Sea section, at the end of summer 2019, Profit.ro reported.

The previous drilling campaign Lukoil carried out four years ago led to the discovery of a natural gas reservoir with preliminary estimated reserves of over 32 billion cubic meters, equivalent to Romania’s 3-year consumption.

The Bucharest branch of the Dutch subsidiary Lukoil Overseas Atash BV owns 87.8% of the concession rights, being the operator of the concession, with the remaining 12.2% owned by the Romanian state-owned producer Romgaz.

Last year, the exploration period for the Trident perimeter was extended by three and a half years, until November 2021, through an addendum to the concession agreement concluded with the national mineral resources agency ANRM. Lukoil also carried out a feasibility study to find the drilling location of a new probe this year. Depending on its success, the group could drill two more exploration wells in the next two years.

The operator will also sign an agreement with gas transporter Transgaz to inject the gas from the Trident perimeter in the national gas transport system.

Source: Romania Insider

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