- Lukoil (OTCPK:LUKOY, OTC:LUKOF) says it has made a large deepwater gas discovery with a wildcat well drilled at the Lira prospect in the Romanian sector of the Black Sea.
- Lukoil says seismic data indicates the area of the gas field could reach up to 15 sq. miles and reserves could exceed 30B cm of gas.
- The Russian company says the success of the well will reduce the risk for further exploration on a series of prospective sites with significant potential reserves, located both close to the Lira structure and in other parts of the block.