Rompetrol to invest 27 million USD in local natural gas deposit

The Rompetrol group through its Upstream division will start reactivation, testing and development works at a natural gas deposit in Southern Romania in three months – an investment that may exceed 27 million USD in the coming four years, according to a company press release.

Rompetrol received the license to operate in the Golesti, Arges county secotr on January 1 2006, following a deal with the National Mineral Resources Agency – ANRM.

The license is valid for a period of up to 20 years, with a possibility to extend it every five years after that. The 4.5 square kilometer sector is in the vicinity of the national natural gas distribution network, some 5 kilometers from the city of Pitesti.