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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.

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