Romgaz Wins Licence to Explore Black Sea

18 June 2009 (Last Updated June 18th, 2009 18:30)

Romanian natural gas producer Romgaz has received a licence from the country's National Agency for Mineral Resources (NAMR) to explore oil and gas resources on the Black Sea continental shelf, it has been announced. The area comprises Muridava Est, Adjud, Ramnicu Sarat and Mizil. <

Romanian natural gas producer Romgaz has received a licence from the country's National Agency for Mineral Resources (NAMR) to explore oil and gas resources on the Black Sea continental shelf, it has been announced.

The area comprises Muridava Est, Adjud, Ramnicu Sarat and Mizil.

Romgaz and NAMR have also entered into an oil agreement on exploration, development and drilling on location E VII-8 Est Depresiunea Panonica.

The agreement was signed after Romgas won a bidding round organised by NAMR.

Romgaz said that there is a possibility of finding new oil reserves in the Black Sea.