Total Hits Oil at Polshkov-1
Friday 28 October 2016
French supermajor Total has revealed an oil discovery at its maiden deep-water exploration well in the Bulgarian section of the Black Sea.
The Paris-based giant revealed the find in its third-quarter results statement on Friday, but kept further information under wraps.
Although Total did not identify the oil discovery, it is at the Polshkov-1 wildcat, which it spud in May with the drillship Noble Globetrotter II.
The well, which sits on the Khan Asparuh licence, was nearing completion in early September, with results having been expected some time this month.
Polshkov-1 could be the first of two wells Total may drill that could reach depths of more than 5000 metres beneath the seabed. Partner OMV has said this licence is “strategically well positioned” next to the Neptun Deep block off Romania, where it and operator ExxonMobil have found trillions of cubic feet of gas in multiple discoveries, including Domino.