ANRM is working on new legal framework to be ready for big investors
The National Agency for Mineral Resources (ANRM) is to auction in the coming period 36 new oil perimeters, of which 28 onshore and the rest offshore the Black Sea, including some in deep sea areas, stated Gheorghe Dutu, the agency’s president, during FOREN 2014.
“We are getting ready for the 11th round of concessions, during which we are going to auction 36 new perimeters. 28 of them are onshore, while the others offshore the Black Sea, including deep sea areas. We are waiting for potential big investors,” said Dutu.
He claims the natural gas resources to be found in the Black Sea might lead to Romania’s energy independence. “We have to do our part in order to restore Romania’s energy resources fund by attracting investments through a predictable and coherent legal framework. The latest discoveries in the Black Sea could make Romania a natural gas exporter starting 2019 - 2020,” the ANRM president added. According to him, an inter-ministerial committee is working on a new legislative package in the oil field, which could include various royalties depending on the hydrocarbons deposits, but also a separate system for shale gas.
“The system of oil royalties needs to be attractive for investors, predictable and to provide incomes for the state, as we are talking about a state asset. There are examples throughout the world where investments have dropped sharply when the royalties were increased in a consistent way,” Gheorghe Dutu underlined.