Following the results obtained from exploration operations, ROMGAZ and its partners intend to relinquish the EX29 Est Rapsodia Block in the Black Sea Romgaz and its partners Lukoil Overseas Atash and PanAtlantic Petroleum signed two concession agreements through which they acquired rights and obligations to exercise petroleum operations in two blocks in the Black Sea, EX29 Est Rapsodia and Ex30 Trident.

In the Petroleum Agreement governing the operations related to Rapsodia Block, the partners carried out all the steps provided in the winning bid, both from a physical as well as from a value point of view.

The data and information obtained did not give the partners the incentive to continue the petroleum operations in a supplementary stage, by assuming a new exploration program.

Tags: Romgaz