Romgaz Needs To Expand Operations In Black Sea - Energy Minister

04.04.2013 By Bogdan Neagu

Romgaz, Romania’s largest natural gas producer, has to expand its operations in the Black Sea by getting involved in new exploration lease deals, the country’s energy minister Constantin Nita said Thursday.

“A company like Romgaz should be a major player in the Black Sea… Romgaz must be part of lease contracts,” Nita told an energy seminar.

In February, state-run Romgaz signed an agreement with OMV Petrom (SNP.RO) and ExxonMobil Exploration and Production to potentially purchase a 10% share in the Midia block in the Black Sea.

Back in November 2012, Romgaz signed a similar agreement with Lukoil and Vanco International to join them in the exploration of two oil blocks in the Romanian sector of the Black Sea.