Petrom and Exxon discover natural gas in Romania's Black Sea

Domino-1, the first exploration well in deep waters of the Romanian Black Sea discovered natural gas, announced ExxonMobil and OMV Petrom. "This news is encouraging, but it is too early in the exploration and evaluation of data stage to know for sure if it is for commercial use or not, " according to a Exxon Mobil and OMV Petrom statement. The Domino-1 probe is located in the Neptune block at 170 km of coastline in deep waters of approximately 1,000 meters. Drilling operations began in late 2011 and it is estimated that the total depth of the probe will be over 3,000 meters below sea level. The Neptune block has a surface area of approximately 9,900 sqm in deep waters ranging between 50 and 1,700 m. In November 2008, OMV Petrom and ExxonMobil Exploration and Production Romania Limited signed an agreement in which ExxonMobil acquired 50 percent of the Neptune block. OMV Petrom is the largest oil and gas company in Romania. In 2010, the group’s turnover was of EUR 4.4 billion, while its profits were EUR 709 million. Alex Camburu, alex.camburu@romania-insider.com (photo source: OMV Petrom)