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Lukoil will continue exploring the Black Sea Trident block
Lukoil's First Vice-President for Refining, Marketing and Distribution Vladimir Nekrasov has told Romania's Energy Minister Victor Grigorescu that Lukoil will continue exploring the Black Sea Trident block, where preliminary evaluations indicate the presence of gas deposits in excess of 32 billion cubic metres, the Romanian Energy Ministry reported on Thursday in a press statement.
Romania's Energy Minister Victor Grigorescu on April 13 met First Vice-President, Refining, Marketing and Distribution Vladimir Nekrasov, who was paying an official visit to Romania. Part of their conversation was Lukoil's current output and business, investment in energy efficiency and the environment, as well as the future development prospects of Lukoil in Ploiesti, Romania.
The Russian executive presented some of the future programmes of the company in Romania, emphasising continuing exploration as part of a consortium that also includes US PanAtlantic and Romgaz of the Lira gas deposit in on the Trident block in the Black Sea, according to the existing lease contract. Preliminary evaluations indicate that the gas deposits so far revealed exceed 32 billion cubic metres; research will continue with seismic exploration works and new drillings.
In his turn, Grigorescu presented the actions of the Energy Ministry to update Romania's Energy Strategy, underscoring the attention attached to the evaluation of energy resource, as possible hydrocarbon deposits in the Black Sea may play an important part.