Lukoil plans 3D seismic exploration work in Romania in 2012

A consortium of Russian oil giant Lukoil and U.S. company Vanco International will carry out a three-dimensional (3D) seismic study on a 2,000 square-kilometre offshore area in Romania this year, Lukoil said.

The study is required to assess the geological structure of the Est Rapsodia and Trident offshore blocks, Lukoil said in its 2011 annual report approved at a shareholders' meeting last week.

The consortium signed concession agreements with the National Agency for Mineral Resources of Romania for the exploration and development of the two blocks, located in the Romanian sector of the Black Sea, in February 2011.

The blocks are located at sea depths between 90 and 1,000 metres and have a total area of 2,000 square kilometres.

Lukoil Overseas and Vanco International hold stakes of 80% and 20%, respectively, in the project.

Lukoil also said it plans to build an operate solar and wind generation stations in Bulgaria, Romania and Uzbekistan, the statement added.

($ = 0.7948 euro)

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