» Romanian Black Sea area has reserves of 200 billion cubic meters of gas
6:57 PM <14px style="font-size: 14pt;">Romanian Black Sea area has reserves of 200 billion cubic meters of gas14px>
>>>In 2025, Romania will produce about 20 billion cubic meters of gas if all Black Sea projects are developed
By Jerom Bolt
The Black Sea gas reserves amount to 200 billion cubic meters in perimeters where drilling took place, which would mean that Romania's total production doubles for 20 years, according to the National Mineral Resources Agency (ANRM).
"When the exploration gas perimeters will work, there will be 9-10 billion cubic meters of gas per year coming from the Black Sea for 20 years. They will bring royalties to the Romanian state of 2.8 billion euros in 20 years. (...) There are about 200 billion cubic meters of reserves in the Black Sea only on what was dug, ie the perimeters owned by Lukoil, ExxonMobil and OMV Petrom, respectively Black Sea Oil and Gas, ANRM officials say.
In 2025, Romania will produce a total of about 20 billion cubic meters of gas if all Black Sea projects are developed. At present, around 11 billion cubic meters of gas are extracted in Romania, and national consumption is around this value.
ExxonMobil and OMV Petrom have invested about 2 billion dollars in the Neptune perimeter, Lukoil - over $ 500 million in the Trident perimeter, and Black Sea Oil and Gas - $ 200 million in the Midia and Pelican perimeters.
Petrom already produces one billion cubic meters of gas in the Black Sea per year in another perimeter.
Another company, Black Sea Oil and Gas, which leased Midia and Pelican Black Sea perimeters, will start production in the middle of next year.
A third important project in the Black Sea, where Lukoil and Romgaz are involved, is the Trident perimeter, where there is a breakthrough, but which has so far not been declared commercial. Here the production could start at a one-two-year difference to the Neptune perimeter.
Also, Petromar Resources, a Romanian company in the Upetrom group, is in advanced negotiations with a partner to explore two oil perimeters in the Black Sea.
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