Romania’s natural gas producer, Romgaz announced on Monday that it was granted an extension to its concession contracts for eight oil blocks by the National Agency for Mineral Resources (NAMR), according to See News.
Romgaz requested the extension of the exploration period by 6 years, until October 2027 since it has performed works highlighting the blocks’ future potential and new hydrocarbon reserves, Romgaz said in a statement filed with the Bucharest Stock Exchange.
According to the NAMR decision published in the Official Gazette, the government agency has extended Romgaz’s licence to explore the RG.01 Transilvania Nord, RG.02 Transilvania Centru, RG.03 Transilvania Sud, RG.04 Moldova Nord, RG.05 Moldova Sud, RG.06 Muntenia Nord-Est, RG.07 Muntenia Centru and RG.08 Oltenia perimeters.
Romgaz stated that the eight blocks have a total area for development and exploitation of 16,282 sq km.