Melrose Resources to invest USD 130 mln in Romanian oil and gas blocks

Newsroom 25/10/2011 | 14:51

Melrose Resources, a U.K. oil and gas company, plans to invest USD 130 million in Romania, according to Bloomberg newswire, that quotes an official press statement from the British Embassy in Romania.

The U.K Ambassador in Romania, Marin Harris, mentioned in a blog post that earlier this month, the Romanian Government reached an agreement with Melrose to start seismic mapping and drilling operations in the Black Sea . The company will seek to exploit oil and gas deposits in this area. The seismic surveys and drilling operations will be done in partnership with the Romanian company Petromar Resources.

Harris added that Melrose Resources is one of the biggest UK investors in neighboring Bulgaria and that this agreement should provide additional security and diversity to the sources of energy supply.