Black Sea attracts interest of Exxon, other drillers, experts say

07/15/2013 | Bloomberg

ExxonMobil's decision to invest $735 million in a Black Sea drilling project in Ukraine shows its confidence in the unexplored region, analysts say. There are fewer than 100 wells drilled in the Black Sea, compared with more than 7,000 in the North Sea. Energy firms, however, are seeking to explore the area's challenging depths because of surging regional demand for energy and technological advancements in drilling, said Bloomberg Industries analyst Philipp Chladek.

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