Petrom commences exploration activities in the Black Sea

• Largest seismic program ever undertaken in Romania
• The seismic acquisition vessel arrived in Constanţa harbor
• The most modern exploration technologies to be used to assess the hydrocarbon potential of the Neptun block

Petrom, the largest oil and gas producer in South – Eastern Europe, as operator of the Neptun Block in the Black Sea, announces that it is commencing initial seismic studies. The initial work will include a 3D seismic acquisition program over an area of approximately 3,000 km2. This is the largest area surveyed in Romania using 3D seismic. The work is being conducted on behalf of Petrom and co-venturer ExxonMobil Exploration and Production Romania Ltd, an affiliate of ExxonMobil Corporation.

Johann Pleininger, member of Petrom Executive Board, responsible for Exploration and Production activities: “ Deepwater exploration is technically challenging and we are pleased to have ExxonMobil, an experienced deepwater explorer, join us in this venture”.

The 3D seismic technology will help identify the most prospective areas for potential hydrocarbons fields at depths of many kilometers below the sea bed.

The survey work will be performed by one of the largest 3D seismic acquisition vessels in the world, the GeoCeltic, operated by Fugro-Geoteam. The ship arrived in Constanta harbor on August 4th. Built in 2007, the vessel has around 100 m in length and 28 m in width and utilizes state-of-the-art technology.

The duration of seismic acquisition works is approximately 90 days.