05.07.2018

Investments in the Black Sea hydrocarbon sector will generate revenue of over $26 billion to the state budget and an additional $40 billion to Romania’s gross domestic product (GDP) until 2040, more

02.21.2018

The Romanian government could collect EUR2.8 billion royalties over twenty years from the natural gas drilled in the Black Sea and natural gas production is expected to double by 2025, when the more

11.29.2017

The European Bank for Reconstruction and Development has become a minority shareholder in Romanian oil firm Black Sea Oil & Gas SRL (BSOG), owned by Carlyle Group, and will receive a seat on the more

04.11.2017

Black Sea Oil & Gas and its co-venture partners announced Tuesday the awarding of a contract for the drilling of two offshore exploration wells located in the XV Midia Shallow Block, Romanian Black more

11.17.2016

Xodus Group will provide base engineering activities for offshore and onshore exploitation installations for the start of production for the Ana and Doina gas discoveries in the Midia block in the more

08.23.2016

The Black Sea will most likely become Romania’s busiest site by the end of the decade, as a result the gas reserves found, and Gabriel Comanescu, one of the most important local entrepreneurs, has more

07.20.2016

ExxonMobil, which signed a deal to explore the deep water sector of the Neptun Block in the Black Sea with OMV Petrom, the only oil and gas producer in Romania in 2008, ended last year with about 321 more

06.10.2015

This year will be a drilling year, 2016 will be a year of analysis and a plan on how to proceed in the Black Sea will not be devised any sooner than 2017-2018, says Gabriel Selischi, the Romanian put more

04.01.2015

Lukoil Overseas, the international exploration and production division of Russia’s oil group Lukoil, says it plans to spud two new wells in the Trident offshore block, one of the two it leases in more

03.26.2015

Private equity behemoth Carlyle Group will buy Sterling Resources’ Black Sea oil exploration business for a cash consideration of $42.5 million, the two companies said Thursday. more

02.18.2015

OMV Petrom (SNP.RO), Romania's largest oil and gas company, and US’ ExxonMobil have found a new gas deposit, following the drilling of the third exploration well in the Neptun block in the Black more

02.03.2015

Romanian natural gas producer Romgaz (SNG.RO) is in talks to take over a 32.5% stake in two offshore fields leased to Canada’s Sterling Resources, whose exploration in the area, carried out since more

01.06.2015

Lukoil Overseas, the international exploration and production unit of the Russian oil group Lukoil, will soon complete the drilling of its first exploration well in the Est Rapsodia offshore block. more

12.02.2014

Romania will focus on the construction of a EUR230 million gas pipeline to transport gas from the Black Sea to Podisor, Giurgiu county, southern Romania, said minister-delegate for Energy Razvan more

11.19.2014

Oil companies from U.S. to Russia have rushed to the Black Sea lured by the prospective deepwater hydrocarbon deposits and the promising results of the surveys and drills did not go unnoticed by more

09.18.2014

Lukoil has asked the Romanian Mineral Resources Agency (ANRM) for a six-month extension, until May 2015, on the exploration of a Black Sea block, citing delays due to the late arrival of a drilling more

09.08.2014

U.S. oilfield services provider Halliburton focuses on two fields with great growth potential in Romania, namely increasing oilfield production and developing deepwater projects in the Black Sea, Joe more

07.16.2014

Romania’s largest oil and gas company OMV Petrom (SNP.RO) Wednesday said the Marina 1 exploration well identified a new oil reservoir on the continental shelf of the Black Sea. more

06.05.2014

The Black Sea depths have ‘swallowed’ more than $1.3 billion since the beginning of exploration works carried out by ExxonMobil in partnership with Romania’s largest company OMV Petrom (SNP.RO) more

06.04.2014

Romania’s natural gas transmission system operator Transgaz Medias (TGN.RO) must upgrade its pipeline network to be able to carry the gas extracted from the Black Sea blocks, OMV Petrom chief more

04.15.2014

Oil exploration in the Black Sea, energy sector initial public offerings, the most certain of which currently is Electrica’s, after Hidroelectrica’s relapse into insolvency, and energy efficiency more

02.25.2014

ExxonMobil Exploration and Production Romania invested so far $500 million in its Black Sea block run jointly with OMV Petrom and expects the figure will double before the parties reach a decision more

01.10.2014

Canadian Sterling Resources plans to sell up to half of its equity interests in the Romanian Black Sea licenses, the company’s vice-president for Romania, Mark Beacom, told Mediafax. more

11.25.2013

OMV Petrom (SNP.RO), the largest company in Romania, will drill a second deep-water exploration well in the Romanian section of the Black Sea towards the end of the second quarter of next year. While more

11.21.2013

Canadian Sterling Resources plans to reduce holdings in all of its Romanian Black Sea licenses during 2014, the company said in its quarterly financial report Thursday. more