Lukoil, Vanco sign two accords with ANRM to exploit Black Sea resources

Lukoil and US company Vanco International jointly signed two agreements with the National Agency for Mineral Resources (ANRM) in view of exploring and developing two oilfields in the Black Sea, Mediafax reports. Lukoil will control 80 pc of the projects, with the other 20 pc going to Vanco, the Russian company wrote announced in a press release. The auction was held last summer.

The oil blocks ‘Est Rapsodia’ and ‘Trident’ are located at depths between 90 and 1,000 metres, 60-100 km off the coast. The closest town is Sulina.

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