LUKoil to Drill 2 Wells on Romanian Shelf in 2015 - CEO

Russian LUKoil company intends to drill two wells offshore Romania until the end of the year, the company's president, Vagit Alekperov, told reporters on Wednesday.

BUDYONNOVSK (Sputnik) — In February 2011, a consortium with the participation of LUKoil Overseas signed a concession agreements for exploration and development of two blocks in the Romanian sector of the Black Sea — Est Rapsodia and Trident — with the National Agency for Mineral Resources of Romania.

"We hope that this year we will finish drilling of two wells at the southern [Trident] block. Now the depth is 1.7 thousand meters, while the project depth is 3.4 thousand meters, " Alekperov said.

According to the Romanian media outlets, LUKoil plans to invest 200-300 million dollars into drilling of two new exploration wells offshore Romania. The company began drilling of the first well in November.

Overall, in 2014-2015 under the exploration program on the Romania's shelf Lukoil is prepared to drill five exploration wells. Three of them are mandatory for drilling, two are optional.