Ukrainians strike oil near Insula aerpilor

An Ukraine-based company found deposits of commercially exploitable hydrocarbons in the Black Sea, by Insula aerpilor (Serpents’ Island), object of a territorial dispute between Romania and Ukraine.

The announcement was made by British JKX Oil & Gas Plc, which specified that the deposits had been found by Cernomorneftegaz Company, its partner in a joint venture, the Crimean Petroleum Company (CPC), Mediafax reports.

The Romanian Ministry of Foreign Affairs (MAE) had recently issued a release announcing that the Romanian authorities in June had been notified about a statement made by Cernomorneftegaz’s chief engineer during a press conference.

He said the company was drilling for oil 4000 metres deep and “40 km south of Insula aerpilor,” an area believed by Ukrainian specialists to contain important oil deposits.

The Ukraine-based company had previously announced it had found crude and natural gas deposits by Insula aerpilor, without volunteering any details as to how large they might be.

“The Romanian experts analysed the position of the drilling point in question and ascertained it is located north of Romania’s contiguous area, 12 km east of the territorial waters. This is a breach of the principle ruling the Romanian-Ukrainian negotiations over the delimitation of the maritime spaces, currently in progress, as it binds the two parties to refrain from drilling for mineral resources in the disputed area until the negotiations are over,” MAE release shows.

MAE sent the Ukrainian Embassy in Bucharest a verbal note expressing concern about the Ukrainian party drilling in a maritime area still under delimitation.

“In the event that the released data are real, the Ukrainian authorities have been requested to immediately take the necessary steps to have drilling stopped and notify the Romanian authorities as soon as possible,” MAE release says.

According to MAE’s press office, the Ukrainian party said Cernomorneftegaz’s works are just for exploration purposes, which is not prohibited by bilateral documents, so that the company is not actually exploiting the deposits found.

The exploration licence granted by the Ukrainian authorities to the joint venture stipulates that CPC should have exclusive exploitation rights over the perimeter in question, the moment the Ukrainian authorities announce the respective territory is considered Ukrainian.