Lukoil discovers 32 billion cubic meters of natural gas deposits in the Romanian Black Sea waters

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The Russian oil giant Lukoil has announced that Lira natural gas deposit of the Trident block in the Black Sea, leased from the Romanian state along with a consortium made up by the US company PanAtlantic and Romgaz, has around 32 billion cubic meters of gas, according to a statement released on Thursday by the Ministry of Energy. The discovery is the second largest one economic in the Black Sea Romanian waters, after the deposit discovered by the Exxon-Petrom consortium.

The announcement was made by Lukoil Vice-President Vladimir Nekrasov, during the meeting with Energy Minister Victor Grigorescu. Data were obtained following a preliminary assessment, showing that the identified gas reserves so far exceed 32 billion cubic meters, according capital.ro.

If the reserves are confirmed, they could fully cover the current consumption of Romania for three years. In addition, the deposit discovered by the consortium led by Lukoil would be the second largest in the Romanian sector of the Black Sea.

Explorations will continue in the block by seismic works under the existing concession contract and with new drillings by the prospecting drill, Nekrasov said.

The consortium made up of Exxon and OMV Petrom announced in 2012 the discovery of a deposit rated between 42 to 84 billion cubic meters of gas in Neptun block, also in the Romanian sector. However, some energy experts say that the Exxon gas deposit could exceed 100 billion cubic meters.

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