11 August 2009
Petrom and ExxonMobil start joint oil exploration in Black Sea
Petrom will start exploration in Neptun block in the Black Sea to evaluate the hydrocarbon potential, following to carry seismic assessment of the area in a venture deal with the subsidiary of the US-based ExxonMobil.
ExxonMobil Exploration and Production Romania Ltd will start the seismic assessment of a 3,000 square km-area, the largest area explored in Romania through 3D seismic acquisition.
The seismic acquisition works are expected to last 90 days.
“Deepwater exploration is a highly technological field and we are pleased to work with ExxonMobil, a company with extensive expertise in deepwater exploration”, said Johann Pleininger, Petrom Executive Board Member for Exploration and Development.
The 3D seismic technology identifies structural features and depositional conditions in water locations at high depths below sea level.
The exploration will be performed by one of the largest 3D seismic vessels in the world, Geo Celtic operated by Fugro-Geoteam.
The vessel that reached Constanta seaport on august 4 was built in 2007 and measures 100 meters in length and 28 meters in width, and it is outfitted with the highest class equipment.
Petrom reported net profit of 417 million lei in first half, down 39% from 687 million lei a year earlier.
The seismic acquisition works are expected to last 90 days.
“Deepwater exploration is a highly technological field and we are pleased to work with ExxonMobil, a company with extensive expertise in deepwater exploration”, said Johann Pleininger, Petrom Executive Board Member for Exploration and Development.
The 3D seismic technology identifies structural features and depositional conditions in water locations at high depths below sea level.
The exploration will be performed by one of the largest 3D seismic vessels in the world, Geo Celtic operated by Fugro-Geoteam.
The vessel that reached Constanta seaport on august 4 was built in 2007 and measures 100 meters in length and 28 meters in width, and it is outfitted with the highest class equipment.
Petrom reported net profit of 417 million lei in first half, down 39% from 687 million lei a year earlier.