ExxonMobil, OMV Petrom to extract 6 bln cubic metres of gas per year from Black Sea

ExxonMobil and OMV Petrom will start producing 6 billion cubic metres of gas per year from the Neptune block of the Black Sea, starting with 2020-2021, Sorin Gal, Director General of the National Agency for Mineral Resources (ANRM) stated on Tuesday.

This would mean more than half of the country's current gas production, which stands at around 10-11 billion cubic metres of gas per year.

"Exxon should express its intent to move on to the next stage of the project in November 2018. They will start producing 6 billion cubic metres per year starting with 2020-2021," Gal told the ZF Power Summit conference.

OMV Petrom and the Americans from ExxonMobil successfully completed the second drilling campaign in the Neptune perimetre of the Black Sea, where the two companies overall invested 1.5 billion euro, from 2008 until now. The first estimates show that there might be between 42 and 84 billion cubic metres of gas in the Neptune perimetre.

AGERPRES.