Romania Edges Closer to Visa-Free Travel to the US
Romania is making strides toward joining the Visa Waiver Program, a significant milestone that would enable its citizens to travel to the United States visa-free for up to 90 days
ExxonMobil Exploration and Production Romania Ltd. and OMV Petrom SA have made a potentially significant gas discovery in the Black Sea, offshore of Romania.
"The exploration well encountered 70.7 meters of net gas pay, resulting in a preliminary estimate for the accumulation ranging from 1.5 to 3 trillion cubic feet (42 to 84 billion cubic meters)," OMV said in a statement on Wednesday, as cited by Bloomberg.
"This may be the biggest find in OMV's history," Chief Executive Officer Gerhard Roiss told reporters in Vienna.
The Domino-1 well, which is operated by the Exxon unit, is located in the Neptun Block, 170 kilometers offshore in water about 1,000 meters deep.
Drilling operations started at the end of 2011 and the total depth of the well is expected to be more than 3,000 meters below sea level. OMV Petrom (SNP) and Exxon each hold 50 percent in the well.
It is too early in the data evaluation and exploration process to determine whether the Neptun block will ultimately prove to be commercially developable or not. The potential for first production is towards the end of the decade at the earliest, according to OMV.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022