Romania to Launch Intl Auction to Lease 30 Oil Fields

BUCHAREST (Dow Jones), Nov. 2, 2009

Romania's mineral resources agency ANRM will launch in December an international auction to lease 30 land and sea oil fields, news agency Mediafax reports, citing ANRM's president Alexandru Patrauti.

The oil fields stretch over a surface of nearly 30,000 square meters, Patrauti said Monday. He added that the bid announcement will be published in the European Union's Official Journal mid-December, but he didn't say when the auction will take place.

According to ANRM data, 12 of the 30 fields are located near Romania's border with Hungary.

The remaining 18 fields are in the Black Sea, within the 9,700 square meters area Romania won after a protracted battle with neighbor Ukraine that was settled by the International Court of Justice in the Hague.  

Copyright (c) 2009 Dow Jones & Company, Inc.

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