ExxonMobil on BRHA uncertainties – We continue to assess the drilling in the Black Sea to determine commercial viability

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ExxonMobil has reacted for the first time to the surprise decision by Hungary two weeks ago, as Budapest decided not to extend the Bulgaria-Romania-Hungary-Austria (BRHA) pipeline to Austria.

“We are following with interest the recent development of the BRHA project. At the same time, we continue to evaluate the results of the drilling programme in the Neptun block – the deep water area, in order to determine the commercial viability of the resources,” is the reaction of ExxonMobil, according to hotnews.ro.

The BRHA gas pipeline is vital for the future gas exploitations in the Black Sea, where ExxonMobil and OMV and other companies have discovered huge natural gas reserves. According to the source, ExxonMobil aims at having access to the western-European market, and the BRHA project (supported by the European Union) would have provided that, if the initial project was met.

ExxonMobil involvement in the Black Sea is economically important as well as strategically, being one of the major US investments in the country.

ExxonMobil Exploration and Production Romania underlines in the release that there is no comment and no additional information at the moment.

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