Victor Ponta: Romania to attain energy independence in 5 to 10 years

Romania will attain energy independence in the next 5 to 10 years, Prime Minister Victor Ponta declared on Friday in the Black Sea port of Constanta (221 km south-east of Bucharest).

He mentioned that it is important that the Black Sea area becomes, following mainly investments by OMV Petrom, but also by other companies of global scale, the energy reservoir Romania badly needs. He also underscored that for the port of Constanta, the resources extracted from the Black Sea and 'brought to shore' mean investments, jobs and development.He added that Petrom will invest over 300 million euro for the building of new drillings wells.

OMV Petrom and Exxon could extract annually 6.5 billion cubic metres of natural gas in Neptun ( the Black Sea) according to the preliminary estimates, quantity which is equivalent of approximately the annual consumption of Romania, a press release of OMV Petrom sent on 4 April to the Stock Exchange Bucharest.OMV produces annually almost 5 billion cubic metres of gas. Romania consumes annually approximately 14 billion cubic metres of natural gas.

The two companies exploit together the area Neptun in the Black Sea. In February of last year, the two companies announced a significant discovery of gas following the drilling of the Domino1 drill, the preliminary estimates placing the natural gas resource at 42-84 billion cubic metres.

Prime Minister Victor Ponta attended on Friday a press conference organized at the ‘Mihai Kogalniceanu' international airport on the occasion of the acquisition of a helicopter for the Constanta County Mobile Emergency, Reanimation and Extrication Service, after having previously visited the Petromar Black Sea oil platform.

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