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February 8, 2023

PM Victor Ponta presents Romania’s interest in stimulating American investments in energy

Romania’s situation, business opportunities and everything that falls within the strategic goal of having energy independence and of being the most important destination in the region for American investments in the energy sector were the main topics tackled by Premier Victor Ponta on Friday in Houston, on the occasion of the meetings he had with American investors. “I am absolutely convinced that based on the information I have presented, based on the information presented by the Energy Minister, by the Finance Minister, Romania will continue to benefit from the attention of American investors. Those who are already in Romania for off-shore explorations, Exxon in particular, for other conventional explorations and drilling, will ensure for us in the short term, because in the energy domain a few years means a short term, what we need for Romania and Moldova, namely energy independence and the capacity of never being blackmailed from the point of view of energy imports by Russia or any other producer,” Premier Ponta stated at the “Romania, gateway to a safe and diversified energy sector” event hosted by the World Affairs Council in Houston.
At his meeting with Mark W. Albers, the Vice President of ExxonMobil, Ponta emphasized the Romanian government’s interest to stimulate investments in the oil and natural gas sector, including in the Black Sea perimeters, stressing that these resources will have an essential contribution to Romania’s energy security. The meeting in Houston took place after Prime Minister Victor Ponta’s visit to the Ocean Endeavour maritime platform located in Romania’s Black Sea deepwater area where ExxonMobil and Petrom are engaged in exploratory drilling for natural gas. The Prime Minister talked with the representatives of ExxonMobil’s leadership about the evolution of operations in the Neptun perimeter, gave reassurances that Romania will continue to support investments in its Black Sea area and encouraged the acceleration of the drilling timetable. Likewise, he appreciated the cooperation that the consortium formed by ExxonMobil and Petrom has with Transgaz, the national natural gas transportation company.
Ponta, who was accompanied by Energy Minister Razvan Nicolescu and by Finance Minister Ioana Petrescu, also visited the ExxonMobil Technology Center in Houston, where he was shown aspects of the company’s operations in the Black Sea.
The Romanian government delegation led by Premier Ponta also met Jeff Miller, the President of Halliburton, one of the world’s biggest suppliers of products and services for the energy industry, especially for the oil and natural gas energy. In Romania the company is present on the industrial platform in Ploiesti. The Prime Minister expressed his appreciation for Halliburton’s interest in developing its investments in Romania, bearing in mind that the Romanian oil and natural gas sector is extremely dynamic. By presenting the important opportunities for new investments in oil and natural gas projects in mature fields, in offshore operations in the Black Sea, the Romanian Head of Government encouraged the company’s leadership to consider Romania a regional point of operations for Halliburton for the South East Europe and the Eastern neighborhood area.
“The main purpose of my visit to the US has been attained, both politically and economically, namely that of showing that Romania is stable, that Romania is predictable and that in Romania all these investments are guaranteed and, in fact, help regional countries to be less vulnerable to Russia’s pressure,” the Head of Government stated at the end of his American tour  last week, a tour that included his participation and speech at the 69th UN General Assembly meeting in New York where he held a series of important bilateral meetings, as well as his visit in Houston, a visit dedicated to talks with American energy companies.

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