Reuters: Lukoil's plans for gas production in Romania disrupted by sanctions

Vantage Drilling is a Dubai-based company, broke a contract for the development of a field in the Black Sea in 2026 "due to changes in economic sanctions".

Reuters citing sources writes the company said it was a contract with Lukoil. The companies were supposed to work together on the Trident field.

On October 19, Vantage Drilling itself announced the cancellation of the contract for the operation of the Platinum Explorer drilling vessel, but did not name the customer.

Four days before Vantage Drilling announced sanctions against Lukoil and Rosneft introduced by the United Kingdom and then, on October 22, – USA.

Vantage Drilling refused to comment on the information that the contract was signed with Lukoil, but said it "terminated the contract because the relevant sanctions made its execution illegal."

Lukoil owns 85% in the Trident and Est Rapsodia fields in partnership with Romanian state-owned Romgaz. They had hoped to start drilling in 2026, but now these plans are in question.

This is the second time in a week that Lukoil has seen its foreign fields disrupted by sanctions. on November 10, Lukoil announced force majeure at the Iraqi oil field "West Qurna-2 is its most valuable foreign asset.

• According to the FT, after the US blocking the deal by selling its foreign assets to Gunvor, the Russian oil giant Lukoil risks lose property worth about 14 billion euros.