Romgaz signs new petroleum agreements for gas fields

State-owned gas producer Romgaz has inked new petroleum agreements with the National Agency for Mineral Resources for certain fields in Romania that are already in operation.

The company said the new arrangement were necessary because the initial volume of proved reserves was increased following investment works in certain fields.

“These signed agreements will be submitted to the Romanian Government for ratification. We are confident that the members of the government and the Romanian Government as a whole, will support this action that contributes, in fact, to achieving the energy security of Romania,” said Romgaz in a statement.

The gas producer registered a net profit of RON 489 million, down by 13.1 percent year-on-year, in the first three months of this year. At the same time, the turnover of the company stood at RON 1.36 billion, compared to the first quarter of last year.

Ovidiu Posirca

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