Large Natural Gas Field Discovered in Romania's Black Sea Continental Shelf

Russian oil giant Lukoil, PanAtlantic and Romgaz discovered a significant natural gas field in the Black Sea continental shelf of Romania.

This was announced by Romgaz, the largest natural gas producer and main gas supplier in Romania, in a statement released on Wednesday.

The drilling of exploratory well LIRA-1X, which was completed in October 2015, led to the discovery of the natural gas field located in the deep sea Romanian offshore in Trident block (EX-30).

Geological exploration works in EX-30 Trident have been carried out since 2011 by the operator of the joint venture, Lukoil Overseas Atash B.V, in compliance with the concession agreement concluded with the government of Romania.

Lukoil owns 72 % of the project, PanAtlantic has a share of 18 %, while the share of Romgaz is 10 %.

The water depth within the block, which has an area of 1006 square kilometres, ranges from 300 to 1200 metres.

Lira-1X is located 170 kilometres away from the coast, where the depth of the sea is about 700 metres.

The well was drilled to a depth of 2700 metres and has been temporarily abandoned for further evaluation of the natural gas discovery.

According to seismic data, the area of the gas field can reach up to 39 square kilometres and the reserves can exceed 30 billion cubic metres, which is to be confirmed during evaluation drilling.

The works planned for 2016 foresee the drilling of an exploration well at the Lira and the reprocessing of seismic data to confirm the size and its potential reserves.

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