Black Sea reserves already offered to Sterling (Canada) – Melrose (Edinburgh) via Midia Resources Romania?

A governmental decision issued by the Liberal government headed by Calin Popescu Tariceanu on November 12, 2008 ruled that some of the natural reserve areas Romania controls near the Serpent’s Island, apart from those that were disputed with Ukraine until Tuesday, be offered to Midia Resources SRL for exploitation. The 2007 financial statements show that the company has no employees and its business gains were 0, with a social capital of 200 Ron. Midia Resources SRL has no branches, no secondary headquarters and no administrators.

Former PM Calin Popescu Tariceanu refused to comment the information and declared that he had no idea about the secret clauses in the contract and that the current government should be able to offer the press more information. However, Romania’s National Mineral Resources deputy general director Mihai Gherman declared for Realitatea TV news station that the former PM did not conclude a new contract but only approved an additional document that reinforced a contract signed several years before.

HotNews.ro checked the associates of Midia Resources SRL: 100% Sterling Resources Canada, an international energy company, quoted on the stock market. Sterling Resources has several assets in Romania under exploitation: one in South West Romania and another in the Black Sea.

According to an archived press release of the company, Sterling has a partnership with Rompetrol for technical and geological data analysis. Sterling has also contracted the Oil Services Group (Grupul de Servicii Petroliere) controlled by businessman Gabriel Valentin Comanescu, regarding drilling services in the Black Sea.

The Liberals confirmed the existence of the contract with Sterling but explained that the contract was signed back in 1992 during the rule of current Democrat Liberal member Stolojan and has been extended by all Romanian governments ever since. What is more, the Liberals declared that their governmental decision in November 2008 did not change the contract in any way.

Social Democratic Party leader Mircea Geoana declared that the government has the obligation to verify the information, Romanian news agency NewsIn informs. Chamber of Deputies Industry Committee president Iulian Iancu declared that the Government approved in November two secret additional acts through which Sterling, through Midia Resources received exploitation rights over two free natural gas wells, Doina and Ana.

Iancu declared that the two additional acts raise some important questions: the government’s decision was not co-signed by the Justice ministry but the document was signed by the Chancellery’s former chief, Dorin Marian.

The decision rules that the company was entitled, through the additional acts, to own the production part that the Romanian state should have received for the Pelican and Midia areas. Iancu underlined that the key elements that could prove this are in the annexes of the contract, which are secret.

Iancu said that the state’s rights should have be conceded to the state’s company, Romgaz. Iancu declared that the Committee could call for the creation of an urgent investigation committee.