Romania has significant reserves of gas in areas of great depth both onshore and offshore, said Sorin Gal, director within the National Agency for Mineral Resources (ANRM).

He added that another large company is interested in exploring Romania’s Black Sea perimeter.

“We are the oldest country which reported an oil production,” Gal explained, reports local Agerpres.

He described how Romania’s reserves have been taken by others, including the “German war machine”, then “another neighbor”, probably referring to Russia.

Sorin Gal also said that there are still significant resources in the deep sea. “At depths of 4,000-5,000 meters there are very significant gas reserves. They can be brought up with very expensive technologies.”

ExxonMobil, OMV Petrom, Lukoil and Romgaz have invested huge amounts in the Black Sea explorations so far, he added. Another large company is now interested “to come to the Black Sea”, but Gal said that he can’t tell its name yet.

ANRM has been waiting for two years for a change in the oil laws to launch a new round of perimeter concessions.

editor@romania-insider.com