Black Gold Rush On Black Sea

10.13.2011 By Roxana Petrescu

The success rate for deep hydrocarbon exploration is 10%-20%; the rest is risk in the billions of euros. This year, two international giants and Romania's largest oil and gas producer OMV Petrom (SNP.RO) have announced plans for the depths of the Black Sea, but no one can yet say how big the "fish" they're hunting is.

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Keywords:
OIL
, DRILLING
, OFFSHORE
, BLACK SEA
, LUKOIL
, EXXONMOBIL
, PETROM
, SHALE GAS