Oil consultant Theodor Orasianu: There are 10 billion cubic meters of natural gas resources in the Black Sea area

The 100 billion cubic meter of natural gas resources in the Black Sea is an exaggeration and one could, at most, talk of some 10 billion cubic meters, oild consultant Theodor Orasianu declared for HotNews.ro. He said that the numbers put forward in the press are exaggerated but said that Romania won today an important strategic, historic and moral victory at Hague.

Orasianu declared that in the Black Sea area there are no bags of oil or gas, but only reservoir rocks. He added that there is no certainty that the Black Sea continental plateau has natural reserves. Therefore, the territory won by Romania has an important historic and moral right.

Orasianu declared that in the continental plateau there are no bags of oil or gas but some reservoir rocks, which contain, as a spunge, gas and even oil. Romania’s territory won today at Hague is an expansion of the Northern part of Dobrogea (South Romania) where authorities did not find important natural reserves.

Orasianu explained that Romania exploited in some area of the Black Sea and found some reserves that assured Romania’s consumption for one year but exploration investments were huge and idd not cover the costs.

Thus, in his opinion, there could be some reserves that could cover consumption for a couple of years but this will not pull Romania off a possible energy crisis. As far as the oil reserves, Orasianu declared that there might be reserves between 5 to 10 million tons.

Romania’s National Resources Agency deputy general director Mihai Gherman declared for HotNews.ro that the state will not invest in these area and that exploitation works are conducted by the companies that win the public tenders. The Romania state would receive a 10-13% of the revenues gained by a company.

However, he declared that exploitation works can total as much as 15 to 20 million euro and thus reserves should be big in order to be cost efficient.