Drilling in the EX-29 East Rapsodia perimeter, leased to Lukoil Overseas, part of Russian oil group Lukoil, was scheduled to start on October 1.
An extension entails the amendment of the lease contract with additional documents, a procedure that requires a government decision.
The lease contract for the EX–29 East Rapsodia perimeter in the Black Sea was signed on February 23, 2011 by ANRM and Lukoil Overseas Atash BV (80%) and Vanco International Ltd (20%).
The exploration period was set for five years since the lease agreement took effect, on November 4, 2011, and is divided into two stages, one mandatory and one optional. Under the agreement, the mandatory exploration period was set for November 4, 2011- November 4, 2014.
In 2012, Romanian gas producer Romgaz Mediaș received 10% of the perimeter in question and in 2013 PanAtlantic Petroleum took over 18%. Lukoil Overseas currently holds 72% of the lease.