ExxonMobil and OMV Petrom to start Black Sea gas extraction in 2020

platforma petrolieraThe works at BRUA (Bulgaria – Romania – Hungary – Austria) pipeline will start at the end of this year and it will be functional in 2020, when Exxon and OMV Petrom will start the extractions of natural gases from the Black Sea, said the minister of energy, Toma Petcu, quoted by Business-Review.eu.

„According to the schedule of Transgaz, the works will start in the last quarter of this year and it’s mandatory to be finished at the end of December 2019. So in 2020 it will be functional,” said Toma Petcu.

According to him, the pipeline is essential for the start of the gas extraction from the Black Sea by Exxon and Petrom.

„BRUA is very important for this project, they will be interconnected,” said minister Petcu.

At the same time, the minister asked Romgaz to make feasibility studies to make new gas deposits near the pipe line, as well as for the gas stock at a lower price during summer and to sell them for export in the winter when the prices are much higher.

OMV Petrom and ExxonMobil are jointly looking for gas in the Romanian territory of the Black Sea, but have not announced officially the start of any commercial exploitations of new gas resources.

 

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