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Lukoil’s Black Sea discovery makes it two out of three in Romania's deepwater

Lukoil’s Black Sea discovery makes it two out of three in Romania's deepwater

Report summary

Lukoil has announced the 30 billion cubic metres (one trillion cubic feet) Lira gas discovery offshore Romania. It is the second announced discovery in the deepwater Black Sea from only three exploration wells. Cumulative estimated resources of the two discoveries is between three and four trillion cubic feet of gas. There are a further four exploration wells which have been drilled and completed by ExxonMobil which have yet to have their results released. By any measure, this is a very good start for a greenfield play. Lira is an exciting discovery confirming the potential of the Romanian deepwater sector and adds further anticipation to ExxonMobil's upcoming drilling results which are expected early in 2016.

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