PETROM & EXXON START DRILLING

Romania's top oil and gas group Petrom and U.S. major ExxonMobil have begun drilling a third deepwater well in the Black Sea in the European Union state, Petrom said on Monday.

The Pelican South-1 well is located 155 kilometres offshore in the Romanian sector of the Black Sea, in the Neptun Block which Petrom and Exxon jointly hold.

"The Pelican South-1 well will test a new geological structure on the Neptun Block," Petrom said in a statement.

Petrom and ExxonMobil jointly own the Domino-1 well, the first deep water exploration well in Romanian waters. In 2012, the firms said they discovered 1.5-3 trillion cubic feet (42-84 billion cubic metres (bcm)) of gas reserves at Domino-1.

reuters.com