Romgaz May Explore Available Black Sea Perimeters

TRADUS DE ANDREI NĂSTASE
Ziarul BURSA #English Section / 24 aprilie 2009

A.T.

While in Medias yesterday, Economy Minister Adriean Videanu said he was planning to propose to license Romgaz to explore the Black Sea perimeters which Romania had won in the Hague. He believes that Romgaz, a natural gas company fully owned by the Romanian State, could conduct research and exploration activities in the respective perimeters in order to evaluate the natural gas and oil deposits.

In turn, Iulian Iancu, Chairman of the Industry Committee of the Chamber of Deputies, said that MPs on the inquiry panel appointed to investigate the Sterling Case would consider the possibility of replacing the National Mineral Resources Agency with Romgaz as party to the Sterling Contract. He said it was normal to have Romgaz as the counterpart of Sterling in the concession for the Black Sea perimeters. MPs currently want to revert the contract to the version signed in the 1990s, which gave the State 45% of the oil and gas production generated from the conceded perimeters.

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