Lukoil Overseas starts seismic survey in the Black Sea

Newsroom 17/09/2012 | 12:53

Lukoil Overseas, the international arm of Russian oil & gas firm Lukoil, has started a 3D seismic acquisitions survey on two blocks in the Romanian sector of the Black Sea, marking Lukoil’s first upstream operation in the EU.

The operation is carried out by CGGVeritas in the East Rapsodia and Trident block, and involves the survey of 2,000 square kilometers that should be finalized by November. The blocks are some 100 km offshore Romania, where water depths range from 90 to 1,000 meters.

The development of the two projects is done by a consortium in which Lukoil Overseas has an 80 percent stake, while US Vanco International owns 20 percent.

They were the successful bidders in a tender held by Romania in June 2010. The concession agreements were signed in February 2011 and ratified by the Romanian Government in October 2011.

Ovidiu Posirca