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October 25, 2021
BUSINESS

OMV Petrom’s exploration agreement extended by 3 years

Wednesday’s government meeting decided to extend OMV Petrom’s exploration agreement by three years, Mediafax informs. The exploration agreement concerns nine land perimeters and one offshore perimeter whose surfaces total 23,000 square kilometers. According to government spokesperson Ioana Muntean, the exploration areas were reduced by 30 per cent during the renegotiations. In his turn, Alexandru Patruti, President of the National Mineral Resources Agency (ANRM), stated that the decision took into account “the necessity of supplementing exploration works” for fossil fuels. Two months ago the government decided that the period in which OMV Petrom has the right to explore the Neptun perimeter located in the Black Sea should be extended by five years. ANRM has also agreed to extend by five years the exploration license for eight onshore fields leased to natural gas producer Romgaz Medias, the agency’s head Alexandru Patruti said yesterday. The documents will be signed shortly.

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