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10th Romanian Bidding Round

The National Agency for Mineral Resources (NAMR) is soon to announce the launch of the 10th internal bid round. The bid includes 30 exploration blocks, with 12 located on the western border with Hungary and Serbia, seven onshore the eastern side and the remaining 11 offshore in the Black Sea.

The bid closing date will be 120 days from the date of announcement and offers should be based on the procedures, main terms and conditions set out by the NAMR, which can be obtained from: www.namr.ro (to date only available in Romanian).


Blocks on offer in the NAMR 2009 bid round (blue shading). Source: PetroView®

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The blocks offered in the west of Romania fall within the PannonianBasin which has a long history of petroleum exploration with over 500 fields being discovered and production primarily from the Middle Miocene reservoirs. In Romania, more than 70 oil and gas fields have been discovered in this area, mainly from the Miocene and Pliocene sandstone reservoirs. The largest oil field in the area is the Suplacu de Barcau, with approximately 144 mmbbls of oil.


Blocks on offer in west Romania in the NAMR 2009 bid round (blue shading). Source: PetroView®

Following the settlement in January, by the international court of justice over the long term maritime border dispute with Ukraine, the hydrocarbon rich north-western Black Sea area is now being offered in the new bid round. It is claimed that this area could hold reserves of more than 100 bcm of gas and more than 73 mmbbls of oil. The area has already attracted attention, with Exxon Mobil signing an exploration agreement with Petrom in December to explore the deep-water portions of the Neptune block.


Blocks on offer in east Romania in the NAMR 2009 bid round (blue shading). Source: PetroView®

The last bid round was held in October 2008 and offered 14 production fields.

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