Lukoil May Invest $1.5 Billion in Romania, Mediafax Reported

OAO Lukoil may invest about $1.5 billion in Romania, depending on the results from the exploration of oil and gas blocks in the Black Sea, Mediafax reported, citing Deputy Chairman Vladimir Nekrasov.

The company plans to spend $400 million in the next three years to search for oil and gas in the Black Sea, the Bucharest- based news service said.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.