OMV Petrom drilling four wells offshore Romania

OMV Petrom has resumed drilling in the shallow-water Istria block in the Black Sea.

Offshore staff

BUCHAREST, RomaniaOMV Petrom has resumed drilling in the shallow-water Istria block in the Black Sea.

The company plans to drill three new wells on existing fields and one exploration well. It aimed to complete two of the wells by year-end and the other two by mid-2018, at a total cost of around Eu70 million ($82 million).

Planned drilling depths are up to 2,000 m (6,562 ft) subsurface.

Peter Zeilinger, executive board member of OMV Petrom responsible for Upstream, said: “Although the producing fields in the Black Sea have a production history of 30 years, they continue to provide a significant part of the group’s total production.

“The current drilling campaign is in line with our strategy to exploit the full potential of our core portfolio and to make production more efficient in order to manage the natural decline.”

Exploration on the Romanian continental shelf of the Black Sea started in 1969. The first hydrocarbon discovery was in 1980, and first production followed in 1987.

Oil and gas production, of around 30,000 boe/d, comes from five producing fields: Lebăda Est (discovered in 1979), Lebăda Vest (1984), Sinoe (1988), Pescăruș (1999), and Delta (2007).

11/03/2017

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