Mid-year target for next deepwater Neptun well in Black Sea

Petrom has outlined its deepwater exploration plans in the Black Sea.

Offshore staff

BUCHAREST, Romania – Petrom has outlined its deepwater exploration plans in the Black Sea.

Last year the company and partner ExxonMobil completed the region’s largest 3D surveys to date over theNeptun block in the Romanian sector.

The partners have contracted a drilling vessel which should start operations on the block around mid-2014. Depending on results and related studies, a second exploratory well could be drilled on the same block.

Petrom is seeking further exploration acreage in the Black Sea, and aims to finalize a transfer agreement for the purchase (with ExxonMobil) of an 85% interest in the deepwater portion of Romania’s Midia block.

The company will also continue negotiations on the production-sharing agreement for the Skifska blockoffshore Ukraine.

11/18/2013

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