BLACK SEA: NEW OIL
South eastern Europe's largest oil and gas producer OMV Petrom encountered a new oil reservoir when drilling the Marina 1 well located in the Istria XVIII offshore Perimeter in the Black Sea, according to a company statement.
Initial production tests anticipate the production potential to be 1,500 barrels of oil per day to 2,000 bpd. If OMV Petrom determines the reservoir is commercially viable, it will develop the necessary infrastructure to drill production wells. Production could begin within the next three to four years.
The Marina 1 well was drilled 196,850 feet from the shore where the water is approximately…
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