Petrom: Black Sea exploration, 70 times more expensive

Petrom, the petroleum company which has exploration rights over two 14,000 square-kilometre blocks in the Black Sea, says that in some cases costs for extracting deepwater resources can be as much as 70 times higher than for extracting onshore resources. This is a very risky game, with experts saying that the odds of success are of some 20%, and that the results show in 3-5 years' time. In order to develop one of the two blocks that Petrom has in the Black Sea, specifically Neptun, the ...

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