Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

Report: Romanian Romgaz to Partner Lukoil on Black Sea Exploration

change text size

Reuters

BUCHAREST, Nov 20 (Reuters) – Romanian natural gas producer Romgaz will partner Russia's second-largest crude producer Lukoil to dig two exploration wells in two Black Sea blocks next year, a company official was quoted saying on Wednesday.

The government approved a concession agreement in 2011 for the oil exploration and development of the offshore Est Rapsodia and Trident blocks in the Black Sea to Lukoil.

Lukoil has a 72 percent stake in the project, U.S.-based PanAtlantic an 18 percent stake, while Romgaz has held the remaining 10 percent since last year.

"We plan to dig at least two wells," Romgaz development director Radu Gheorghe was quoted as saying by daily Ziarul Financiar.

Earlier this month Romania sold a 15 percent stake in Romgaz, raising 1.7 billion lei in an oversubscribed initial public share offering.

The company has said it could bid or partner international firms to explore other Black Sea blocks.

(Reporting by Ioana Patran; Editing by Luiza Ilie)

Copyright 2014 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Most Popular Articles
From the Career Center
Jobs that may interest you
Rig-Up Superintendent
Expertise: Drilling Superintendent, Rig Manager
Location: Houston, TX
 
Drill Site Manager
Expertise: Drilling Superintendent
Location: Midland, TX
 
Drilling Engineer
Expertise: Drilling Engineering, Petroleum Engineering
Location: Houston, TX
 
search for more jobs