Romania Grants 20-Year Concession to Ireland’s Moesia Oil & Gas

Romania granted Moesia Oil & Gas Plc a 20-year concession for an onshore oil and gas block, the government said.

Moesia, a Dublin, Ireland-based petroleum exploration and production company, must invest about $6 million to explore the 1,000-square kilometer (386-square mile) block, the government said in an e-mailed statement.

Depending on the results , the company may spend an additional $4 million for development, the government added.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.