Lukoil continues to explore large gas deposit in the Black Sea

Russian oil group Lukoil informed the Romanian Government that it would continue to explore the Lira gas deposit within the Trident perimeter in the Black Sea. Lukoil estimates that the resources found there amount to some 32 billion cubic meters of gas, over three times more than Romania’s annual consumption. Lukoil has been working on this exploration project together with the US company PanAtlantic and the Romanian gas producer Romgaz. The company’s discovery is the second largest discovery in Romania’s Black Sea section, after the deposit discovered by the Exxon-OMV Petrom consortium in the Neptun perimeter. Lukoil vice-president Vladimir Nekrasov had a meeting with energy minister Victor Grigorescu on Wednesday, in which they talked about the Russian group’s plans in Romania. The company also owns the Petrotel refinery in Ploiesti and a network of fuel distribution stations in Romania. editor@romania-insider.com