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.
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.
Source balkans.com
