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

Nov. 3 (Bloomberg) -- 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