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November 25, 2020
BUSINESS

Basescu: Romania will no longer sell the 10 pc of Petrom

President Basescu said, during a meeting with the CEO of OMV, Gerhard Roiss, that after the latest evolutions regarding the exploration of Black Sea resources, it became easily understandable that Romania will no longer sell its 10 pc stake in Petrom and it was fortunate that the 2011 sale attempt failed, Mediafax reports. “Romania will become an important player on the energy market in the next 10 years, if we will get lucky with the Black Sea,” Basescu told Gerhard Roiss, who is also the president of the Supervisory Board of Petrom. He answered President Basescu that the development of the Romanian energy industry represents an important chance in the future for youths, and the head of state agreed.On the other hand, Constantin Tampiza, the general manager of Lukoil Romania, is not very optimistic about the potential of Black Sea resources, according to incomemagazine.ro. “I heard about some (companies) announcing that they found the Persian Gulf 2 here. But this is not quite like that. The costs are very high, they need long rigs, over 3,000 meters. Drilling under the continental shelf is something, while drilling where sea is very deep is a completely different story,” Tampiza explained. Plus, there are very tough environment conditions that raise the costs sustained by oil groups, the Lukoil official added.The Lukoil group recently announced its interest for the oil resources under the Black Sea. According to the company representative in Romania, Lukoil currently makes the preliminary surveys. “We, too, are interested by the Black Sea resources. We are currently making surveys,” said Constantin Tampiza, the representative of Lukoil in Romania.

 

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