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The Black Sea basin is one of the last immature but closest to the European market hydrocarbon exploration frontier with rather high petroleum potential assessment. Several factors, including the understanding of its tectonic and sedimentary evolution, postpone a full-scale development of oil and gas prospects including deepwater sub-hydrate gas accumulations and shale gas resources in the circum-Black Sea region. The geological risks of its development based on recent exploration activity results are analyzed.

NEW STAGE OF HYDROCARBON EXPLORATION IN THE BLACK SEA BASIN: UPDATING OF ITS GEOLOGICAL STRUCTURE AND PROSPECTS DEVELOPMENT