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January 24, 2022

Gov’t adds five years to Petrom’s lease on Neptun block

The drilling rights of oil company OMV Petrom on the Neptun block in the Black Sea have been extended by another five years, according to a Romanian government decision issued Wednesday, Mediafax informs. The government meeting was interrupted for two hours, for talks on the five-year extension of the 30-year interval over which Petrom has drilling rights on the Neptun block. The lease agreement for the Neptun bloc was approved by Government decision in 2000. On Tuesday, the government set a minimum price of RON 0.3708 lei (EUR 0.087) a share in a secondary offer through which it wants to sell 9.84 pc of oil company OMV Petrom, Economy Minister Ion Ariton told.

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