Russian company LukOil, the holder of the concession contract for the Trident gas perimeter in the Romanian part of the Black Sea, with estimated reserves of 30 billion cubic meters, wants to extend the exploration stage of the offshore deposits for four years until 2026.

The results of the drilling so far are not likely to convince the company to declare the commerciality of the perimeter, according to Economedia.ro.

The National Agency for Mineral Resources (ANRM), which handles the concession of the hydrocarbon perimeters on behalf of the Romanian state, has reportedly already approved the extension of the exploration stage.

"The last drilling campaign did not validate the geological model resulting from the interpretation of the existing geological and geophysical data, nor did the seismic inversion, performed additionally, allow the geological model to be calibrated with an adequate degree of confidence and did not change the initial estimates of 30 billion cubic meters," ANRM told Economedia.

Following the completion of the exploration works, the holder of the concession contract requested and was approved an evaluation program with a mandatory and an optional phase through which the drilling works of a new well and the elaboration of the development study of the commercial deposit with a deadline of completion in 2026. 

andrei@romania-insider.com

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