Romgaz signs new agreements to replace the ones expired during the past 12 years, Gov’t to approve them

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Romgaz has announced that it has concluded with the National Agency for Mineral Resources (ANRM) on June 9 new agreements to replace the ones expired during the past 12 years, hotnews.ro informs.

“The signed agreements will be subject to ratification by the Romanian Government. We have every confidence that the members of the government and the Romanian Government as a whole will support this approach, which contributes to achieve the energy security of Romania,” reads a company press release.

Half of the exploitation agreements concluded between Romgaz and ANMR have expired gradually from 2004 hitherto, without being extended according to the law. Romgaz had reached the situation to exploit natural gas, based on expired agreements, risking having its operations halted in several blocks.

In some perimeters with expired agreements, gas was discovered above the initial estimates. In order to be exploited, further extension of the agreements by government decisions was necessary.

The government decisions were not issued and thus Romgaz has exploited gas, although the agreements were expired.

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