Sep. 2012 - A 3D seismic survey is being carried out in the Romanian sector of the Black Sea covering the Est Rapsodia and Trident blocks. The 1,242-square mile survey is expected to be completed at the end of the year. Lukoil (80% operator) and Vanco International (20%) won a tender issued in 2010 for exploration and development within these blocks and the survey is one of their obligations.

Feb. 2011 - A consortium, consisting of LUKOIL Overseas and Vanco International, has signed concession agreements with the National Agency for Mineral Resources of Romania. The agreements provide for exploration and the development of two blocks, Est Rapsodia and Trident, in the Romanian sector of the Black Sea. Lukoil will hold an 80% interest in the consortium with Vanco International holding the remaining interest. The two blocks are located in the Black Sea in water depths ranging from 295 to 3,281 feet (90 to 1,000 meters). The total area of the two licenses spans 494,211 acres (2,000 square kilometers). 3D seismic study is required to assess the geological structure of the blocks, stated the consortium.

Jul. 2010 - LUKOIL and Vanco International of USA won a tender for exploration and development of two blocks, Est Rapsodia and Trident, in the Romanian sector of the Black Sea. The blocks, located in water depths ranging from 295 to 3,281 feet (90 to 1,000 meters), are situated about 37 to 62 miles (60 to 100 kilometers) from the coast. A 3D seismic study will be performed to assess the geological structure of the blocks that span roughly 494,211 acres (2,000 square kilometers). Under the agreement, LUKOIL Overseas will sign a concession agreement with the National Agency for Mineral Resources of Romania within the next six months.