The joint Domino-1 well is the first deepwater exploration well in the Romanian sector of the Black Sea. The well is located in the Neptun Block some 170 kilometers offshore Romania, in waters about 1,000 kilometers deep.
Drilling is expected to take approximately 90 days.
“We are very pleased to collaborate with Petrom in this project,” said Ian A. Fischer, Managing Director of ExxonMobil Exploration and Production Romania.
ExxonMobil and Romania’s dominant oil company OMV Petrom have signed an agreement in 2008 to explore deepwater portions of the Neptun Block.
Under the deal, Petrom operates the initial work program, while ExxonMobil helps fund the program and provide expertise in evaluating the deepwater seismic data.
Development and production costs in the perimeter are estimated between $3 billion and $10 billion, if drilling proves successful, according to ExxonMobil officials.