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April 18, 2021

Negotiations on Romgaz’s participation in Black Sea drilling

Following two months of negotiations with OMV and Exxon, Romgaz has obtained “a direct participation” in the drilling for the new natural gas deposits in the Black Sea, Premier Victor Ponta stated on Realitatea TV, announcing that he will hold a new meeting with the OMV President at the end of January, in Vienna. “People I trusted, and I’m not sorry for that, negotiated with OMV and Exxon for two months Romgaz’s participation in the drilling for the new deposits in the Black Sea, with OMV and Exxon stating every day “that’s it, no more negotiations.” Of course, in this type of negotiations it’s always important not to go over the line. Eventually we obtained a fair participation for Romgaz, which remains a state-owned company,” Ponta stated. He did not offer details. At the same time the Premier pointed out that royalties will be hiked to the average European level not only in Petrom’s case but also in all cases that concern natural resources, including oil and natural gas.

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