Black Sea gas could make Romania energy independent by 2016, says Traian Basescu

Newsroom 05/03/2012 | 16:18

President Traian Basescu said today the gas deposits recently discovered by ExxonMobil and OMV Petrom in the Black Sea could help Romania become energy independent in the 2015-2016 time frame. The president went today on board Deepwater Champion (in picture), the ship used by the two oil giants to explore the Neptun perimeter in the Black Sea. The ship, constructed in South Korea, is specially designed to facilitate entry into and out of the Black Sea.

According to the president, Romania consumed 14.2 bcm (billion cubic meters) of gas in 2011, out of which 11.4 bcm came from domestic production while the rest was imported.

“A natural gas deposit of around 100 bcm has been discovered and there are similar perspectives for other despots that will be explored next,” said Traian Basescu, quoted by Agerpres newswire. “If the other deposits prove to be gas rich as well, Romania can be a natural gas source not only for itself, but also for other countries in the EU,” he added.

The Romanian president said gas extraction is expected to start between 2015 and 2017, delayed by the Deepwater Champion ship that has to leave in the Gulf of Mexico, where it will carry out exploration works.

The Neptun Block covers an area of approximately 9,900 square km in water depths ranging from 50 meters to 1,700 meters. Between 2009 and 2010 the oil companies acquired 3,000 square km of 3D seismic data on this block, and further acquisitions are expected this year.