Exxon, OMV May Produce Black-Sea Gas From 2015, Mediafax Says

OMV Petrom SA (SNP) and Exxon Mobil Corp. (XOM) will probably start natural gas production from the first deep- water well in the Black Sea as early as 2015, Romanian President Traian Basescu said today, after visiting the drilling rig, according to Mediafax.

The two companies, which said on Feb. 22 they may have encountered a gas accumulation of as much as 84 billion cubic meters in the Black Sea, will explore new wells “with similar prospects,” in the Neptun Block in the “coming time period,” Basescu told reporters in Constanta today, the news service reported.

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

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