Melrose to Invest $130 Million in Romanian Oil Fields

Melrose Resources Plc, a U.K. oil and gas company, plans to invest about $130 million in Romania, together with some partners, to explore oil and gas blocks in the Black Sea, the British Embassy in Bucharest said in an e-mailed statement today.

The Romanian government approved on Oct. 13 a concession agreement to allow Melrose and its Romanian partner Petromar Resources SA to start seismic surveys and drilling in the Black Sea, according to the statement.

(Corrects company name in first paragraph.)
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