“Our enthusiasm is very real as regards the Black Sea. We expect Domino [well] to start production in 2020. At the end of the second quarter of 2014 we will start works on the second well. There could be more wells, but right now I cannot say exactly how many,” says Jaap Huijskes, Executive Board Member for Exploration & Production at OMV.
OMV Petrom and ExxonMobil announced last year they had jointly discovered an accumulation of 42-84 billion cubic meters of natural gas in the Neptun block of the Black Sea. This would be enough to cover Romania’s 4-year consumption considering a 70% recovery rate. Romania’s annual gas consumption is around 14 cubic meters, with around 20% being covered through imports from Russia.
(English version by Daniela Stoican)