The Wall Street Journal announced last Friday that Chevron has given up on the Barlad Shale perimeter in Romania. The decision is part of the strategy that the American giant has come up with as a result of the oil price crisis that started last summer.
The decision to withdraw from the perimeter leased for the exploration of shale gas has to be seen primarily from this point of view.
Unlike the verdicts given in the Romanian mass-media, Chevron has not stated at any point that the decision came as a result of grim outlook for shale gas resources. As was the case in Poland. In Poland, foreign companies and recently the two local companies as well – PGNIG and Orlen – “left” the perimeters leased for the exploration and exploitation of shale gas because of the lack of resources.
Chevron Romania operated the Barlad Shale perimeter, measuring 6,350 square kilometers, on the basis of a contract signed in 2010. Before last week’s decision was taken, Chevron Romania had finalized seismic survey activities on 400 kilometers and had drilled exploration wells. All data on the activities conducted within the Barlad perimeter were sent to the National Mineral Resources Agency.
Chevron Romania owns and operates three other perimeters in Dobrogea, namely blocs 17, 18 and 19. The perimeters measure approximately 2,711 square kilometers. At the same time, on the local market Chevron is a supplier of a wide range of services, including the distribution of lubricants for commercial and industrial consumers.