OMV

Austrian oil and gas company OMV has said it continues consultations with Russian energy giant Gazprom on the South Stream gas pipeline project.

According to a media statement of the company, as cited by TASS, talks between OMV and Gazprom are ongoing.

Italy's Sapiem, majority owned by Eni, announced that it had been notified about the suspension of the project.

Gerhard Roiss, CEO of Austrian oil and gas company OMV said that Russia's announced cancellation of the South Stream pipeline was not to have major consequences.

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France's Total will start hydrocarbon drilling at the Bulgarian Black Sea block Khan Asparuh in the second half of 2015, according to Paul Sexton, Exploration Manager at Total E&P Bulgaria.

Sexton, as cited by the BGNES news agency, presented the progress of the exploration activities, saying that the company had wrapped up 3D studies and the data was yet to be analyzed.

Romania's OMV Petrom and US oil giant ExxonMobil have started drilling at a third exploration well in the Neptun Block off the Romanian Black Sea coast, Petrom said on Monday.

"The Pelican South-1 well will test a new geological structure on the Neptun Block," Romania's biggest oil and gas group said in a statement.

ExxonMobil Exploration and Production Romania Limited (EMEPRL) and OMV Petrom have started drilling with exploration derrick Pelican South-1 for a new prospect in the Neptune block, by oilrig Ocean Endeavour, according to a press release issued by the two companies for AGERPRES, on Monday.

For the seventh consecutive year, Romanian oil and gas company OMV Petrom, majority owned by Austria's OMV, is the biggest company in south-east Europe, according to the ranking for 2013 published by SeeNews agency.

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President Traian Basescu said on Wednesday that OMV Austria will be the partner of Romania as long as the Romanian national interest is served as a priority.

Iran has expressed willingness to supply gas to Europe via the Nabucco gas pipeline.

Ali Majedi, Deputy Oil Minister in charge of International Affairs, announced that two European countries had already expressed interest in the project.

Austrian OMV announced that it had found a new oil reservoir in Romania's Black Sea shallow-water Istria XVIII offshore perimeter.

The reservoir identified at exploration well Marina 1 was reported to have a production potential of 1,500 to 2,000 barrels of oil equivalent per day (boe/d), according to reports of OMV Petrom, as cited by money.bg.

OMV Petrom, the largest oil and gas producer in South-Eastern Europe announces the success of an exploration well drilled in the Black Sea's shallow waters, where tests point to a 1,500-2,000 barrels of oil equivalent (BOE)/day production potential, according to a company release remitted to AGERPRES on Wednesday.