Production of the gas stock found in the Black Sea, Romania could start in 2015-2017
According to the latest statement of President Traian Basescu, a Romanian offshore Black Sea formed by ExxonMobil and oil and gas firm Petrom could start production in 2015-2017. March 2012
In February, Austrian OMV said that the well operated by ExxonMobil had struck what could be up to 3 trillion cubic feet (84 billion cubic metres) of gas, but also cautioned the project may not be commercially viable. The Domino-1 well is the first deep water exploration well in Romanian waters and is located in the Neptun Block, 170 km offshore. After a visit to the Neptun Block, President Basescu estimated that"exploiting the well could start once all explorations are finished, sometime around 2015-2017." Basescu added there were other potential gas deposits in the block and they could help make Romania energy independent."It is clear Romania has a chance at total energy independence and if the other wells that will be explored will indicate similar quantities Romania can be a source of natural gas not only for itself but for many other countries in Europe."
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