OMV Petrom has made an oil discovery in an exploration well drilled in the Istria XVIII offshore Perimeter (shallow water) in the Romanian Black Sea.
Marina 1 was drilled 60km offshore, to a depth of about 2150m below the seabed in about 50m water depth. First estimates from production tests show a potential production per well of 1500-2000boe/d.
In the following months, OMV Petrom will evaluate the results of the Marina 1 well and assess its commercial viability in order to develop and start production from the new reservoir. In order to exploit the reservoir, it is necessary to develop required infrastructure, including drilling of the production wells. Production from the Marina discovery – depending on the decision on its commercial viability – could start over the next 3-4 years. Investments necessary for reservoir development are estimated to above EUR 100million.
"The Black Sea is an important area for OMV Petrom, an area which continues to have potential for new discoveries. Currently, production from shallow waters accounts for 18% of the company’s hydrocarbons production in Romania. We have over 40 years of experience in exploration and production in the shallow waters of the Black Sea and we will continue to invest in the development of the offshore segment", says Gabriel Selischi, member of the OMV Petrom Executive Board, responsible for Exploration and Production.
After the completion of tests, the Marina 1 well will be plugged with cement and abandoned.