- Romania | 14 August 2019
Can you explain the purpose of ROPEPCA, which brings together important stakeholders in Romania’s oil and gas sector?
ROPEPCA aims to further develop Romania’s already outstanding tradition in the oil and gas industry. With a great geological potential and highly trained professionals, the country is ripe for increased exploration and development projects. This potential will be realized through the recently announced 11th licensing round for exploration blocks, which will diversify the upstream sector in Romania.
What are your thoughts on the long-awaited 11th licensing round, and what needs to happen to make it a success?
The 11th licensing round has just been announced and is set to be officially launched in a few months. There is significant interest from companies looking to explore the region due to its strategic geographic and political positioning. However, in order to make these exploration projects a success, it’s critical that outstanding issues are addressed, such as land access, data declassification, and the consolidation of the National Agency for Mineral Resources. We believe these issues can be resolved by amending the Petroleum Law no. 238/2004, which has not been significantly updated since 2004.
What are your thoughts on Romania’s National Energy Strategy for 2018-2030, as proposed by the government, and how does it align with the industry’s vision?
While the strategy contains valuable conclusions, the challenge lies in delivering results. The state’s recent measures have been discouraging to investors, despite the agreement that investment is necessary to stimulate exploration and production. ROPEPCA’s vision focuses on three key elements: a predictable and stable regulatory and fiscal environment, modernization of the Petroleum Law to create operational efficiency and easier land access, and closer collaboration with the National Agency for Mineral Resources. With these elements in place, ROPEPCA aims to open new opportunities for investments and support the growth of Romania’s oil and gas sector.
