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ExxonMobil, OMV Petrom Strike Gas Offshore Romania

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ExxonMobil’s affiliate EMEPRL Corporation and OMV Petrom SA, the 51% subsidiary of OMV Aktiengesellschaft, today confirmed a potentially significant gas discovery in the Black Sea offshore Romania.

Operated by ExxonMobil, the Domino-1 well is the first deep water exploration well offshore Romania and has a total depth of more than 3,000 meters below sea level. The Domino-1 well is located in the Neptun Block, 170 kilometers offshore in water approximately 930 meters deep.

The exploration well encountered 70.7 meters of net gas pay, resulting in a preliminary estimate for the accumulation ranging from 1.5 to 3 trillion cubic feet (42 to 84 billion cubic meters). Drilling operations started at year-end 2011 and are in the process to be finalized. ExxonMobil and OMV Petrom plan new 3D seismic acquisition during 2012. The evaluation of the Domino-1 well results and the new seismic will determine next steps.

Petrom’s report says that it is too early in the data evaluation and exploration process to determine whether the Neptun block will ultimately prove to be commercially developable or not. However, should further work confirm the technical and commercial feasibility of deep water gas production from the Neptun block, further investment during both the exploration and development phases could reach several billion USD with the potential for first production towards the end of the decade at the earliest.

The drilling of Romania’s first deepwater well began last month. The well is being drilled by the world-class, sixth generation drillship, Deepwater Champion, which recently transited to Romanian waters after completing its drilling program offshore Turkey.

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Statoil, ExxonMobil Strike Gas Off Tanzania

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Statoil and partner ExxonMobil confirmed that the Zafarani-1 well in Block 2 offshore Tanzania has encountered indications of natural gas in a good quality reservoir.

Drilling operations are still on-going and it is too early to give any indication of size and commerciality, Statoil said in a statement.

The well was spudded in early January 2012 and drilling operations are expected to take up to a total of 3 months to complete.

The well is being drilled by the drill ship Ocean Rig Poseidon and is located some 80 kilometers off mainland Tanzania.

It is the first exploration well that has been drilled in the license which covers an area of approximately 5,500 square kilometers. The water depth at the well location is 2,582 meters and the well itself is planned to reach a total depth of 5,150 meters.

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Statoil operates the license on Block 2 on behalf of Tanzania Petroleum Development Corporation (TPDC) and has a 65% working interest with ExxonMobil Exploration and Production Tanzania Ltd. holding the remaining 35%.

Statoil has been in Tanzania since 2007 when it was awarded the license for Block 2.

TPDC is pleased about these preliminary results and is eagerly awaiting further information on this operation,” says Yona Killaghane, Managing Director of TPDC.

The final assessment of what has been encountered will be released at a later stage once drilling operations have been completed and the well results fully analyzed, Statoil said.

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ExxonMobil, Petrom Strike Gas in Black Sea

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ExxonMobil Exploration and Production Romania and OMV Petrom, said on Friday that natural gas has been encountered in Domino‐1, the first deepwater exploration well in the Romanian sector of the Black Sea.

This is encouraging, but it is too early in the data evaluation and exploration process to speculate on whether it will prove to be commercial or not,” the two companies said in a statement.

The Domino-1 well is located in the Neptun Block, 170 kilometers offshore in water about 1000 meters deep.

Drilling operations started at year-end 2011 and are ongoing.

The total depth of the well is expected to be more than 3000 metres below sea level.

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