EXPERTISE

Auction for 28 oil perimeters launched in Romania

July 2019 - Romania’s National Agency for Mineral Resources (NAMR) has launched the bidding procedure for 28 petroleum exploitation areas as per Order no. 273 dated 24 July 2019 in the Romanian Official Gazette.

The auctions involve 22 onshore concessions located in Maramureș, Transylvania, Wallachia and Moldavia, and 6 offshore areas located in the Black Sea. The size of each concession area ranges from 700 to 1000 km 2.

Any Romanian or foreign companies interested in these projects should submit their offers within 120 business days following the date when the announcement is published in the Official Journal of the EU.

In order to formulate their tender, interested companies have the right to access geological data and information about the tender procedure based on an official request. To this end, certain fees must be paid and a non-disclosure agreement must be signed.

The exploration agreement should be concluded between the winner of each concession and NAMR within nine months from the start of negotiations.

For further information, please contact Iustinian Captariu, Partner and Head of Kinstellar’s Energy and Natural Resources practice in Romania, at

e-mail

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