Rompetrol looks to strike oil

The private oil group Rompetrol, run by businessman Dinu Patriciu, has signed a concession agreement for two oil exploration and production blocks in Romania, in which it will invest about 9 million dollars over the next three years, according to the group’s representatives. Rompetrol is the second largest oil operator in Romania following Petrom, which is about to become part of OMV. Rompetrol carries out activities across the entire oil industry sector: exploration, production, distribution and refining. Rompetrol will operate in oil blocks in Satu-Mare (in north-west Romania), and Zegujani (in south-east Romania), covering about 3,000 square km and 1,800 square km respectively. “The zones have higher potential in terms of natural gas, but research carried so far does not rule out the possibility of coming across some commercial crude oil deposits,” Rompetrol officials stated. ZF