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

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.

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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.