First deepwater Black Sea discovery estimated at 1.5 – 3 Tcf
An offshore Black Sea well jointly owned by ExxonMobil and OMV's Romanian arm Petrom has made a potentially significant discovery, according to the Austrian player.
Operated by ExxonMobil on a 50% interest, the Domino-1 well is the first deepwater exploration well in Romanian waters and is located in the Neptun Block, 170 kilometres offshore.
OMV said the exploration well encountered 70.7 metres of net gas pay, resulting in a preliminary estimate for the accumulation ranging from 1.5 trillion to 3 trillion cubic feet.
Speaking in Vienna as OMV announced its annual results, chief executive Gerhard Roiss told reporters that if confirmed, the find could be the largest in the company’s history, Reuters reported.
OMV officials said they would consult with ExxonMobil on the next steps and production could potentially begin around the end of the decade.
"It is the first successful deepwater well in the entire Black Sea, so this is significant," Roiss added.
02/22/2012