Enterprise, Shell scheduled to explore Romanian acreage

This paper reports that the pace of exploration is packing up in Romania's offshore and onshore sectors. Enterprise Oil Exploration Ltd., London, signed an exploration and production sharing agreement with state owned Rompetrol SA for two Black Sea blocks, Nos. XIII and XV, covering 3,000 sq km and 4,000 sq km, respectively. Shell Romania Exploration BV agreed with Rompetrol on an exploration and production sharing agreement for onshore Block 10. This covers 6,150 sq km in northern Transylvania. Shell's target will be deep formations underlying producing gas zones. Enterprise has a 65% share as operator of Blocks XIII and XV, while partner CanadianOxy (Romania) Ltd. holds the remaining 35%. Exploration and development costs will be borne by the license partners, while Rompetrol will take a share of any production