Lukoil begins offshore drilling at its Romanian Black Sea perimeter

25/07/2019 09:49 Oil Market

news

Lukoil, the third investor interested in the Romanian Black Sea gas (after OMV Petrom and Black Sea Oil and Gas controlled by investment fund Carlyle), will start drilling operations this autumn after obtaining the necessary permits, Economica.net reported.
 

The activities will be carried out by a platform of the Italian company Saipem. Italian company Saipem, specializing in offshore drilling, announced that it won two contracts, worth a combined USD 160 million, for drilling: one in Abu Dhabi and one in the Black Sea, without indicating the customers. However, unofficial sources indicated Lukoil as being one of the customers.

 

According to the press release of the company, the Black Sea drilling is expected to start in the last quarter of the year and will be done with a semi-submersible platform, Scarabeo 9. The platform was contracted by the Russian company Lukoil, for the drilling campaign in its perimeter in the Romanian Black Sea area, the Trident perimeter, converging market sources said.

 

The Trident perimeter is 87.8% owned by Lukoil (the Russian company is the operator), while the rest is held by Romgaz, a company controlled by the Romanian state. According to seismic data, the surface of the reservoir can reach 39 square km, and the reserves to be confirmed by the assessment drill can exceed 30 billion cubic meters of natural gas, Romgaz said in 2015.

Source: romania-insider.com

Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.

<READ MORE

Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.

READ MORE

Germans outline 20GW offshore blueprint

09/10/2019 09:25:00

Germany plans to start tenders for 5GW of new offshore wind in 2023 and start construction in 2027, a multi-state meeting in Hannover heard yesterday.

READ MORE