Romania's OMV Petrom starts 30 mln euro new offshore drilling campaign

04/07/2019 09:14 Oil Market

news

Romania's top oil and gas group OMV Petrom [BSE:SNP] said on Monday it has started a 30 million euro ($34 million) new offshore drilling campaign in the shallow waters of the Istria block in the Black Sea.

Two new wells will be drilled by the end of the year, OMV PEtrom said in a statement.

 

The two wells will be drilled at over 2,000 meters below the seabed, in water depths of approximately 50 meters. They target additional production from the Lebada East field, discovered in 1979.

 

This offshore drilling campaign comes in continuation of investment projects for offshore production in the shallow waters of the Black Sea, for which over 350 million euro were invested between 2014 and 2018.

 

Currently, OMV Petrom has exploration, development and production operations in the shallow waters (Istria block) and exploration activities in partnership with ExxonMobil in deepwater areas (Neptun Deep).

Source: seenews.com

Germany's Notus to add 270 MW wind capacity in Ukraine

16/09/2019 09:24:00

Germany-based Notus Energy Group intends to build 270 MW of wind parks in Ukraine that will kick off operations by 2021, it said last week.

<READ MORE

Oil prices rise sharply after attack on Saudi oil fields

16/09/2019 09:18:00

Crude oil prices rose by more than 10 percent at the start of Monday's trading day in Asia due to the attack on two oil plants in Saudi Arabia. The price of Brent oil in Singapore rose by $ 11.73 ($ 10.59) to $ 71.95 per barrel, before falling back to below $ 68.

READ MORE

US wind additions to peak at 14.6 GW in 2020 - Wood Mackenzie

13/09/2019 11:22:00

The US wind industry will witness the addition of a record 14.6 GW of capacity in 2020 as developers are rushing to complete their projects ahead of the planned phase-out of the federal production tax credit (PTC), Wood Mackenzie says.

READ MORE