Several oil companies and consortia have won oil concessions in Romania following a bid organized by the state. Two consortia and a company have won three oil resources concessions in the Black Sea, the National Mineral Resources Agency has announced. Lukoil Overseas-Vanco International and Melrose Resources-Petromar Resources have won the rights to explore, build and exploit two perimeters in the Black Sea. Petro Ventures Bv has also won a concession for a perimeter in the Black Sea continental plateau.

Romania has received the areas in the Black Sea offshore area last year, some 9,700 square kilometers, out of the 12,400 square kilometers disputed with Ukraine. Experts say the area holds 100 billion cubic meters of natural gad and 10 million tonnes of oil.

Lukoil Overseas-Vanco International have the Rapsodia and Trident concessions, while Melrose Resources-Petromar Resources, the Muridava and Cobalcescu concessions. Petro Ventures Bv has won the Luceafarul concession.

Several other companies, among which Exxon Mobil, Rompetrol and Repsol had filed offers for these perimeters.

As for oil concessions in other areas in the country, Chevron Romania has won three concessions in Dobrogea (Costinesti, Vama Veche and Adamclisi). Mol and Expert Petroleum have jointly won three concessions in the Panonic Basin in Western Romania – Voivozi, Adea and Curtici.

Avere Enegrz Inc got four perimeters in the Panonic Basin – Tria Baile Felix, Periam and Biled.

Audax Resources Ltd got the Patra concession, while Clara Petroleum Ltd, the Tulca concession.

Moesia Oil and Gas got the Crai Nou concession. Universal Premium has won the Paulis and Buzias concessions.

As many as 31 international oil companies had submitted offers for 30 concessions of oil-bearing areas in Romania. These companies have submitted 24 offers, as many have joined in consortia. ExxonMobil, Lukoil, Petrom, Rompetrol, Repsol were interested in exploring Romania’s continental plateau, while companies like Chevron, Total and Mol have asked for land sites.

Some of these companies have joined hands into consortia Exxon Mobil with Petrom and Romgaz, Lukoil Overseas and Vanco International, Melrose Resources with Petromar Resources, Petrom and Romgaz for offshore resources.

Chevron and Total have filed offers for three land sites in Dobrogea, near Vama Veche, Costinesti, Adamclisi, while Mol, together with Expert Petroleum submitted offers for three land sites in the Western part of Romania. Petro Ventures was the only company to submit offers for an offshore site close to the Black Sea coast.

This is the first time Romania is organizing a bid for the concession of offshore sites. It is also the first time Romania’s gas company Romgaz enters the oil segment.

The extraction agreements will be signed in February 2011. The most important criteria was the investment program, together with the technical and financial power, the environment impact and staff training programs. Exploration may vary between 3 and 10 years and the winning companies will have to pay fees between 7 and 13.5 percent of their production for the offshore sites, while for land sites, between 3.5 and 13,5 percent of the production. The contracts will be signed for 30 years but the companies may end the contracts after the exploration phase, if they fail to find oil.