ANRM: Romania's interest is in Black Sea natural gas investment to start in 2022, or deposits will devalue
Romania's interest is for investment in the Neptune Deep field in the Black Sea to start in 2022, otherwise the natural gas there will lose its value, said on Thursday Director of the National Mineral Resources Agency (ANRM) Sorin Gal.
He participated in an online debate on decisions for the new economy: better public policies for the oil and gas sector, organised by Sustainable Romania and EM360 Group.
Gal was asked what will happen if Black Sea investors do not decide to invest in the Neptune Deep project.
"We do not know whether or not the investment decision will be taken. We have an oil agreement amended by additional documents where there are penalties. It is true that ExxonMobil and OMV Petrom came up with a request in 2020 for extending the commerciality of the deposits there. For the time being, it is under our consideration and by March 2022 we will probably see what happens," Gal said.
If the transaction under which Romgaz becomes the owner of a 50% stake and project operator is completed, discussions will be held with Romgaz, otherwise they will continue with the current owners, he said.
Currently, ExxonMobil and OMV Petrom are equal partners in the deepwater Neptun Deep project, where exploration has revealed deposits estimated at 42-84 billion cubic metres. For comparison, Romania produced 9.2 billion cubic metres in 2020.
ExxonMobil has announced weighing an exit from Romania, and Romgaz has submitted an offer to take over the US company's stake. In their turn, OMV Petrom executives announced that next year they will take the decision to invest or not in this project, depending on legislative changes.
Senior official with the Energy Ministry George Niculescu said that Parliament will amend the Offshore Drilling Law, regardless of the activity of his ministry.
One week ago, Gal mentioned that according to ANRM estimates, there are between 200 and 400 billion cubic metres of natural gas in the Black Sea. AGERPRES (RO- author: Florentina Cernat, editor: Oana Tilica; EN - author: Corneliu-Aurelian Colceriu, editor: Cristina Zaharia)
The content of the www.agerpres.ro website has the exclusive purpose of public informing.
All the information published on this website by AGERPRES is protected by relevant legal dispositions.
It is forbidden to copy, reproduce, recompile, decompile, distribute, publish, display, modify, create derived components or products or full services, as well as any exploitation of the site's content.
Details in the section Terms of Use. If you are interested in picking up AGERPRES news items, please contact the Marketing Department – [email protected].
The use of the Comments section entails your obligation to respect the AGERPRES terms and conditions in regards to the publishing of comments on the www.agerpres.ro.
Other news in category
Interim President Ilie Bolojan participates, on Wednesday, in videoconference organized by European Council President
Bucharest, Feb 25 /Agerpres/ - Interim President Ilie Bolojan will participate, on Wednesday, in the videoconference organized by European Council President António Costa. The videoconference precedes the special European Council due to take place on March 6 2025 . Interim President Ilie Bolojan invited, on Wednesday, the chairpersons of
BVB's Hanga: Most important achievement of 2024 is the number of 226,000 accounts opened on stock exchange
The most important achievement of 2024 is the number of 226,000 accounts opened on the stock exchange and a growth rate of approximately 10,000 - 15,000 accounts per quarter, said the president of the Bucharest Stock Exchange, Radu Hanga, on Tuesday, at the 12th edition of the BVB Awards 2025 - the annual awards ceremony for the previous year's capital market performance
Opposition tables motion of censure
Bucharest, Feb 25 /Agerpres/ - Opposition Alliance for the Union of Romanians (AUR), S.O.S. Romania, the Party of Young People (POT) on Tuesday tabled with the Chamber of Deputies a motion of censure against the Ciolacu Government called 'Prime Minister NORDIS must go, Romanians are tired of humiliation'. The motion is signed by AUR, S.O.S. Romania, PO
Romania to host largest European ski patrol meeting
Bucharest, Feb 25 /Agerpres/ - About 180 delegates from several countries will participate, between March 2 and 7, in the 4th ski patrol European FIPS meeting, the largest such event organised so far in Romania and the largest to be organised this year in Europe, in the field of mountain rescue. 'The event enjoys an exceptional participation, both in terms
THREE YEARS OF UKRAINE WAR/AGERPRES Exhibition - 33 photographs 'of historical value', displayed at Senate
Bucharest, Feb 24 /Agerpres/ - An exhibition presenting photos from the war in Ukraine, captured by the special correspondent of the National News Agency AGERPRES Cristian Lupascu, during the three years of aggression by the Russian Federation on this country, was inaugurated on Monday in the foyer of the Senate. The 33 photographs 'of historical value'
UKRAINE-THREE YEARS OF WAR/REPORT/Tulcea/Ukrainian refugee: The horror of war is strong and fear lives in each one uf us
The multicultural educational centre for refugees from Ukraine, established by the Tulcea branch of the Romanian Red Cross, gathers dozens of people daily, mostly elderly, who fled the country attacked by Russia, with the centre having thus become a second home for those trying to adapt to an unstable geopolitical situation, a place where individuals forced to leave behind e
UKRAINE - THREE YEARS OF WAR/ Parliament Palace to light up in Ukrainian flag's colours
Bucharest, Feb 24 /Agerpres/ - Parliament Palace in Bucharest will be illuminated this evening in the colours of the Ukrainian flag. The Chamber of Deputies marks three years since the start of the armed aggression of the Russian Federation against Ukraine by lighting up the main facade of the House of Parliament in the colours of the Ukrainian flag starting a
UKRAINE-THREE YEARS OF WAR/REPORT/War in Ukraine seen from across the Danube, in Chilia Veche, Tulcea County
The frequent Russian attacks on Ukraine's Danube port infrastructure reverberate among the population on the Romanian side, a population that trusts NATO's support, while the authorities continue to implement cooperation projects funded by the European Union through the Interreg Next programme - Romania - Ukraine, offering a chance for the sustainable development of
UKRAINE - THREE YEARS OF WAR/Almost 11.2 million Ukrainian citizens enter Romania in three years of war
Approximately 11.2 million Ukrainian citizens entered Romania in the three years of war, the Romanian Border Police reported on Monday. According to a press release the Romanian Inspectorate General of the Border Police (IGPF) sent to AGERPRES, border control formalities continue for Ukrainian citizens crossing the border, in accordance with national and EU re
Kelemen Hunor: Coalition, CSAT discussion, necessary in current geopolitical, international context
Hungarian Democratic Union of Romania (UDMR) Chairman Kelemen Hunor told AGERPRES on Friday that a discussion is necessary both in the ruling coalition and in the Supreme Council for National Defence (CSAT) not only about the annulment of the presidential election but also in the current geopolitical and international context. At the same time, the UDMR leader
EnergyMin Burduja: Romania maintains its assessment that by 2032 it will double its electricity production
Romania maintains its assessment that by 2032 it will double its electricity production and become a major energy exporter in the region, however, for this to happen, an intelligent energy transition is needed, one that uses all the country's sources and resources to generate as much energy as possible, Energy Minister Sebastian Burduja wrote on his Facebook page on Frid
Romanian authorities preparing facilities for tourist visas for foreigners wishing to visit Romania (minister)
Romanian authorities are preparing facilities related to tourist visas for foreigners wishing to visit Romania, while diplomatic discussions have been held regarding commercial agreements in the tourism sector with several extremely important countries from both the European Union and beyond, Minister of Economy, Digitisation, Entrepreneurship and Tourism Bogdan Ivan said on
PM Ciolacu: It is a total circus for me to resign; I will not do that
Prime Minister Marcel Ciolacu on Thursday said he does not intend to resign from his position, saying that 'it is a total circus' for that to happen, as the stake is not about him, but rather about Crin Antonescu's candidacy in the presidential election on behalf of the coalition. He was asked by the press accredited at the Victoria Palace whether
PM Ciolacu: Peace in Ukraine can only be achieved with U.S. help
Prime Minister Marcel Ciolacu said on Thursday, regarding the peace negotiations in Ukraine, that what is important are not the harsh, momentary statements of world leaders, but rather a fair and lasting peace in that country, which can only be achieved with the help of the U.S. 'I would like to respond to the most important global topic: the peace negotia
MAE: No discussions or interventions regarding any candidate or electoral process, in bilateral interactions with U.S. officials
The Romanian Ministry of Foreign Affairs (MAE) on Wednesday points out that there were no discussions or interventions regarding any candidate or the electoral process in Romania during bilateral interactions with officials from the U.S. Administration. 'We have heard the public statements from some representatives of the U.S. Administration at the Munich