Lukoil Accepts Black Sea Challenge, Earmarks $300M For Exploration

10.06.2011 By Roxana Petrescu

The depths of the Black Sea lure another major oil company after Petrom and ExxonMobil, as Russian-held giant Lukoil announces it is ready to invest up to $300 million in exploration. The Black Sea therefore becomes the newest ‘playground’ for oil companies after Romania’s soil has been probed by hydrocarbon seekers over the last 150 years.

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Keywords:: BLACK SEA; , OIL; , LUKOIL; , EXPLORATION

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