OMV Petrom Launches EUR30 Million Black-Sea Drilling Campaign
July 01 2019 - 7:10AM
Dow Jones News
By Nathan Allen
OMV Petrom SA (SNP.RO) said Monday that it plans to invest 30
million euros ($34.1 million) in drilling two wells in the Black
Sea by the end of the year.
The Romanian oil-and-gas group, which is majority-owned by
parent company OMV AG (OMV.VI), said it plans to drill the wells to
a depth of 2,000 meters in shallow waters on the Istria Block in
the Romanian Black Sea.
The goal of the campaign is to extend production from the Lebada
East oil-and-gas field, OMV Petrom said.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
July 01, 2019 06:55 ET (10:55 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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