Bloomberg News

OMV Petrom, Exxon Mobil Find ‘Encouraging’ Gas in Black Sea Well

February 03, 2012

Feb. 3 (Bloomberg) -- OMV Petrom SA, Romania’s largest oil company, said it “encountered” natural gas in a Black Sea well it is exploring together with a unit of Exxon Mobil Corp.

The gas was found in Domino-1, the first deepwater exploration well in the Romanian sector of the Black Sea, Petrom, which is majority owned by Austria’s OMV AG, said in a statement today.

“This is encouraging, but it is too early in the data evaluation and exploration process to speculate on whether it will prove to be commercial or not,” Petrom said.

The Domino-1 well is located in the Neptun Block, 170 kilometers offshore in water about 1,000 meters deep, according to the statement. Drilling operations started at year-end 2011, Petrom said, adding that the total depth of the well is expected to be more than 3,000 metres below sea level.

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net


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