The voice of the entire
Upstream sector in Romania

NAMR states that it is close to opening the bid round promised in 2013 – new petroleum concessions

 

The National Agency for Mineral Resources (NAMR) states it is very close to opening a new international bid round for the concession of new petroleum blocks. The latest bidding round was organized  in  2010,  when  30  petroleum concessions were  auctioned,  with  a  total  surface area  of  30,000  square kilometers, in the west of Romania, Dobrogea and in the continental shelf of the Black Sea. Even if this auction was postponed year after year, NAMR states it is currently preparing the last details.

 "From the technical perspective, NAMR has prepared a new bidding round offshore and onshore. The final details are set to ensure that the bidding round will have the desired impact and be concluded successfully ", according to the response submitted by National Agency for Mineral Resources (NAMR) to wall-street.ro questions. The latest bidding round was organized in 2010, when 30 blocks were auctioned, with a total surface area of 30,000 square kilometers, in the west of Romania, Dobrogea and in the continental shelf of the Black Sea. Out of the 30 blocks auctioned, NAMR awarded exploration and exploitation licenses for 20 petroleum blocks to Hungary's MOL, U.S.company Chevron and Russia's Lukoil. At the next bidding round, NAMR would organize for concession 30 petroleum blocks, onshore and offshore. Mid last year, NAMR president estimated that petroleum block would have an surface area of approximately 1,000sq km. In Romania, in 2014, there were 452 fields in exploration, development and exploitation, most of them under the concession of the "traditional" oil and gas producers, Romgaz Medias and OMV Petrom. Of the 452 petroleum concessions, 22 were green fields, according to NAMR.

 Less contributions to the state budget from O&G companies

 During the first nine months of 2015, NAMR collected royalties amounting a total of RON 1.06bn (EUR 238.7mln), almost 7% less than the same period of 2014, when it collected royalties of RON 1.14bn.  Most of share in the collected royalties is from oil and gas production and the difference is represented by mining royalties. During January - September 2015, the contribution to the state budget of the oil and gas sector was RON 896.6mln, approximately 12% less than the contributions of the same period of 2014, amounting 1.01bn RON. Mining royalties raised in the first nine months with 40% at 166.6mln RON, compared with 118.5mln RON in the same period of 2014.

Source: Wall-Street

 

 

INTERNATIONAL NEWS

Norway: Equinor...

Equinor, operator of production licence PL 502, has completed the drilling of wildcat well 16/5-7. The well, which was drilled about 1 km west of...

UK: New entrant E&P...

A new study by Westwood Global Energy Group shows that new entrant E&P companies to the UKCS since 2008 now control 46 percent of production, 39...

Argentina: President...

AIM-listed President Energy has provided an update on its frac operations at the Puesto Flores field, Rio Negro Province, Argentina.
LOCAL NEWS

Project of National...

Romanian Government has passed a decision under which the Pojorata-Vatra Dornei gas transmission...

Energy companies must...

Expansion of IT and digitalization systems incite more and more cyber security risks, says...

GFR Extends the...

GFR announces the issuance of the first electronic consignment notes for the OMV Petrom railway...
OIL & GAS CHARTS