OMV has launched a new exploration drilling campaign in a mature shallow-water area of the Black Sea, where the firm plans to drill two wells by the end of the year. OMV said its Romanian subsidiary Petrom will drill the wells to a depth of over 2,000 meters in the Istria Block, located in water depths of 50 meters, at a cost of over €30 million ($34 million). The wells will target additional oil and associated gas reserves from the Lebada East field, discovered in 1979.
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