Ocean Endeavour spuds latest deepwater wildcat offshore Romania

ExxonMobil Exploration and partner OMV Petrom have started drilling the Pelican South-1 exploration well in the Neptun block in the Romanian sector of the Black Sea.

Offshore staff

BUCHAREST, RomaniaExxonMobil Exploration and partner OMV Petrom have started drilling the Pelican South-1 exploration well in the Neptun block in the Romanian sector of the Black Sea.

TheOcean Endeavour is drilling the well around 155 km (96 mi) offshore, testing a new geological structure.

Earlier in October, the rig completed drilling of the Domino-2 appraisal well. The data is currently under evaluation.

"Exploration for oil and gas in frontier areas is complex and very detailed, often taking years to complete,” said John Knapp, managing director of ExxonMobil’s affiliate in Romania. “A thorough understanding of the geology is essential prior to making the significant investments required to develop such a discovery."

"We are encouraged by the good results so far, in shallow and deep waters,” added Gabriel Selischi, member of OMV Petrom Executive Board responsible for Exploration and Production. “However, much of the activity in the Black Sea deepwater area is of a frontier, pioneering nature, involving high investment risks and therefore requiring a stable investment framework.”

Both companies have 50% of the deepwater portion of the Neptun block, and ExxonMobil is the operator.

10/30/2014

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