Chevron to begin shale gas exploration in Barlad in the second half of the year

Chevron plans to start in H2 2013 the drilling of an exploration well in Barlad shale gas block and will initiate seismic studies for the three blocks in Constanta County. “We need to obtain about nine permits from various state institutions based on which we will receive the necessary construction permits for the prospecting areas”, Chevron Romania manager Tom Holst stated, quoted by Mediafax. “Prospecting operations will take three to five years, after which Chevron and the Romanian Government will assess the results of this study. If feasible amounts are found, Chevron will start exploitation. Production lasts on average 25 years, so it’s a long-term project”, Holst added. Chevron owns in Romania a shale gas exploration/exploitation block in Barlad and three blocks in Constanta County, i.e. Vama Veche, Adamclisi and Costinesti.