Consortium pledges up to USD 1 billion for oil and gas explorations offshore Romania

Newsroom 27/10/2011 | 17:51

A consortium comprising of Sterling Resources, PetroVentures and Gas Plus will invest between USD 500 million and USD 1 billion for explorations of hydrocarbon deposits in the Black Sea. This information came today after the minister of Economy, Ion Ariton, met with the consortium representatives. The meeting was also attended by the president of the National Mineral Resource Agency (ANRM), Alexandru Patruti.

The explorations will be done in the Ana and Doina blocks, part of the Pelican and Midia perimeters, in the Black Sea, that have been concessioned from Romania.

The consortium representatives announced that legal procedures and negotiations for these perimeters have been successfully finalized with the Romanian authorities.  
 

Ovidiu Posirca

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