Serbian oil firm NIS, majority owned by Russia’s Gazprom Neft, and Canada-based East West Petroleum Corporation (EWP) signed on Wednesday a deal to develop four oil and gas exploration blocks in Romania.
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The agreement is subject to the approval of Romania’s government, the companies said in a statement.
They said the exploration program would include the collection and processing of approximately 900 square km of 2D and 600 square kilometers of 3D seismic data from a minimum of 12 wells to be drilled on the four blocks.
The new petroleum licenses are located in the western Romania and the blocks have been little explored, they said.
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Source balkans.com
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