OMV Petrom Kicks off Black Sea Drilling
Jan 19, 2021 10:20:am
Summary The Austro-Romanian operator is honing its focus on the Black Sea, with planned operations in multiple countries.
by: Joe Murphy
Austro-Romanian operator OMV Petrom has launched a new offshore drilling campaign in the Romanian Black Sea, involving two development wells at the shallow-water Istria block, it said on January 18.
Work on the first w.
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“OMV Petrom has had an active presence in the Black Sea for over four decades and, during this period, has demonstrated its important role for the economic development of Romania,” says Chris Veit, OMV Petrom executive board member responsible for upstream. Using modern technical solutions, we seek to unlock additional resources that can compensate for the decline of the domestic production from mature fields. The Black Sea has a strategic importance for Romania’s gas production, which currently covers almost 10 per cent of the country’s annual gas consumption.”
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Exploration in the Romanian continental shelf of the Black Sea started in 1969. The first hydrocarbon discovery was in 1980, and the first production in the Black Sea started in 1987.
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Required fields OMV Petrom: investments of approximately EUR 32 mn in a new drilling campaign in the Black Sea Two new development wells are being drilled in the shallow waters of the Istria block OMV Petrom invested over EUR 500 million between 2014 and 2019 in the offshore production in the shallow waters of the Black Sea
OMV Petrom, the largest energy company in Southeastern Europe, initiated a new offshore drilling campaign in the shallow waters of the Istria block in the Black Sea. The first drilling operations started at the end of December 2020 and the drilling of the second well will start at the beginning of this year. The investment for this campaign is approximately EUR 32 million.
Romania s OMV Petrom to invest 32 mln euro in Black Sea drilling campaign Author: OMV Petrom. License: All rights reserved.
BUCHAREST (Romania), January 18 (SeeNews) - Romania s top oil and gas group OMV Petrom [BSE:SNP] said on Monday that it plans to invest 32 million euro ($38.8 million) in a new drilling campaign in the Black Sea.
OMV Petrom initiated a new offshore drilling campaign in the shallow waters of the Istria block in the Black Sea, it said in a statement filed with the Bucharest Stock Exchange, BVB.
The first drilling operations started at the end of December and the drilling of the second well will start at the beginning of this year.