Romanian president Traian Basescu, who visited on Wednesday, September 3, Exxon Mobil and Petrom’s Ocean Endeavour drilling platform, said during a short press conference after the visit that he is optimistic Romania will be able to cover Romania and the Republic of Moldova’s gas needs by 2020.

He also said it was one of his objectives to start drilling in the Black Sea. Exxon Mobil and Petrom discovered an important bedding last year, Domino 1, and are now drilling at Domino 2, while the Ocean Endeavour platform will stay in the Black Sea until the first quarter of 2015 to search for gas in other perimeters.

“Should the gas reserves be confirmed, as we hope, Exxon and Petrom have to invest some USD 4-5 billion, so that the reserves can be exploited,” said Traian Basescu upon his visit. Basescu is at his last mandate, which will end on December 21.

How much do Exxon and OMV Petrom pay for their Black Sea deepwater drilling

Exxon and OMV Petrom continue deepwater exploration in the Black Sea by drilling another well

editor@romania-insider.com