ROPEPCA: EUR 1 bn investment in the oil industry generates EUR 3.2bn in the GDP

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A EUR 1 billion investment in the oil industry generates some EUR 3.2 billion in the GDP and ensures 45,000 new jobs, a survey conducted by the Romanian Association of Oil Exploration and Production (ROPEPCA) and presented on Monday reveals.

The survey was completed by KPMG in Q4 2015 on the upstream onshore investments impact in Romania, according to Bogdan Vaduva, KPMG’s Energy and Natural Resources Department coordinator, informs.

“The EUR 1 billion considered was divided in two (….) We have considered a ten-year investment on an average oil price of USD 48 per barrel and an average gas price of EUR 18 per MWh,” Vaduva said.

In his turn, ROPEPCA President Artur Stratan draws the attention that it’s the state’s duty to the citizens to pay attention to the way this sector can be influenced by political decisions.

Currently, in Romania there are 400 oil fields and more than 13,000 operating wells.

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