OMV Petrom starts production at new offshore oil rig in the Black Sea

Sorin Melenciuc 09/08/2018 | 12:49

The largest Romanian oil and gas group, OMV Petrom, controlled by Austria’s OMV, has started production at a new offshore oil rig in the Black Sea from Lebăda Vest deposit, with a daily output of 1,000 boe, the company said in a press release.

LVO7 is the first multilateral well drilled in Romania. Multilateral completion systems allow the drilling and completion of multiple lateral boreholes within a single main bore.

OMV Petrom has invested around EUR 30 million in the new offshore drilling, which include two sections under the seabed of 3,200 meters and 2,200 meters, respectively.

Lebăda Vest, an oil deposit discovered in 1984, is Romania’s larges offshore oil deposit under current production.

In September 2017, OMV Petrom has kicked of a new drilling campaign in the Black Sea, which will require investments of EUR 70 million by mid-2018.

Three new drills will target deposits that were already identified by the company, while another one will support the discovery of new resources.

OMV Petrom is doing joint exploration works with ExxonMobil in the Neptun Deep block. The two companies have made some discoveries of gas deposits, but the commercial production hasn’t started yet.

BR Magazine | Latest Issue

Download PDF or read online: May (I) 2023 Issue | Business Review Magazine

The May (I) 2023 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “MedLife BVB performance highlights potential of Romania’s emerging
Sorin Melenciuc | 17/05/2023 | 15:38

    You will receive a download link for the latest issue of Business Review Magazine in PDF format, based on the completion of the form below.

    I agree with the Privacy policy of

    I agree with the storage and handling of my data by

    Advertisement Advertisement
    Close ×

    We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

    Accept & continue