Talks about royalties and mining system in the Black Sea between President Iohannis and OMV’s CEO

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Romanian President Klaus Iohannis has met with Rainer Seele, CEO of OMV on Thursday at Cotroceni Palace in Bucharest.

According to a Presidential Administration, during the meeting was presented group’s activity and the priorities for the next period, the most important regional projects and the perspectives for oil and natural gas markets in 2016.

In this respect, it was discussed „the importance of future toll system from energy and natural resources domain”, being underlined the need for fiscal predictability” in a stimulating and advantageous environment both for investors and for the state.”

It was also reiterated the great importance of OMV Petrom – Exxon-Mobile partnership on the exploitation of deposits in the Black Sea, the press release reads.

Another topic of discussion was the BRUA project (Bulgaria – Romania – Hungary – Austria), an energy corridor “that would provide Romania additional opportunities on the gas regional exports”.

Royalties law could pass through Parliament in the first part of next year, and its implementation to be made as of 2017, former Minister of Finance, Eugen Teodorovici said in October.

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