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Lukoil and Romgaz want to break down Exxon and OMV in the Black Sea, the Romanian area

By Emea Riga
Since the adoption of the new offshore law, the angry attitude of the Exxon-OMV association for gas exploration in the Romanian Black Sea sector does not cease at all. Particularly noteworthy is the unfair game the Austrian company claims against Romania. An alliance of the conservative government in Vienna and Moscow is shaping up in this battle. The gas fields in the Romanian Black Sea sector are a big stake for economic and geostrategic players in the region.
Three years after the discovery of gas reserves in the Trident perimeter, on the Black Sea continental shelf, Lukoil and Romgaz start the second phase of the project. The two companies have planned a drilling campaign in which they will dig more probes. Potential reserves in the Trident petrimetry amount to 30 billion cubic meters of gas, Romania's consumption for three years.
In the report with the results of the first six months of this year, Romgaz talked about "drilling exploration drilling 1 Trinity 1X in the 30EX Trident perimeter," which is "under execution".
It does not seem to be the only probe that will be drilled into the Black Sea subsoil in the Trident perimeter, which shows that three years after the discovery of the area was announced, Lukoil and Romgaz finally start large-scale drilling. According to a press release from the local media last month, Lukoil Overseas has asked the Environmental Protection Agency Constanta environmental approval for three projects: "Explosion drilling drilling in the EX-30 Trident, Black Sea, A1 probe", "Exploration drilling execution natural gas within the Trident EX-30 perimeter, Black Sea, A2 probe "," Exhaust gas exploration drilling in the Trident EX-30 perimeter, Black Sea, Trinity-1X probe ".
This is the first large-scale drilling in the Trident perimeter since the autumn of 2015, when the discovery was made; in the meantime, only a seismic data acquisition took place.
In October 2015, Romgaz announced that "work has been completed on the LIRA 1X exploration well, which led to the discovery of an important gas field in the Romanian Black Sea sector within the EX 30 Trident Perimeter," announced yesterday Romgaz, participating in the project in collaboration with Lukoil and PanAtlantic (USA).
"According to the preliminary results of the analysis of the data obtained during the drilling, as well as of the geophysical investigations, the LIRA-1X probe encountered a gas tank of 46 meters in thickness. According to the 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.
The 30 billion cubic meters of gas would ensure Romania's consumption for 3 years
Lukoil is the project operator and also owns the largest portion of the concession, 72% Lukoil, followed initially by PanAtlantic by 18% and by Romgaz by 10%. Subsequently, PanAtlantic Petroleum has notified its consortium partners that it wants to withdraw from the project and to give it 18% free of charge. This would be taken over by the other two concessionary companies in proportions proportionate to the current holdings on the Trident perimeter. So, Romgaz's share went up to 12.2% and that of Lukoil to 87.8%.
There are two large-scale projects in the Black Sea mainland. First, in the deep water area, run by Exxon and OMV Petrom-Neptun Deep, where potential gas reserves of up to 84 billion cubic meters have been discovered, and the second, run by the US investment fund Carlyle, Black Sea Oil and Gas (BSOG) in the small water area has a potential of between 10 and 20 billion cubic meters.
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