BUCHAREST, Sept 3 Romania's top oil and gas
group Petrom and U.S. major ExxonMobil will
need to invest $4-5 billion to extract gas from a Black Sea
field, provided additional data confirms their find, President
Traian Basescu said on Wednesday.
The two companies jointly own Domino-1, the first deep water
exploration well in Romanian waters and in 2012, they said they
had discovered 1.5-3 trillion cubic feet (42-84 billion cubic
metres (bcm)) of gas reserves.
Earlier this year, Petrom and Exxon began drilling a second
deepwater well in the Black Sea in the European Union state,
needed to assess the size and commercial viability of the gas
field previously discovered at Domino-1.
Basescu said the new gas field would likely help Romania
cover both its gas needs and those of eastern neighbour Moldova
(Reporting by Luiza Ilie; Editing by Matthias Williams)