Romania "very close" to amending Offshore Law

"We are very close to having the Offshore law [amended]," the Senate's head and president of junior ruling Liberal Party (PNL) Florin Citu announced, News.ro reported.

The project, expected to unlock the offshore projects of major oil companies in the Black Sea, will be promoted quickly through the Parliament, under an emergency procedure, he said.

"Given the context, all the political forces of the coalition support an Offshore Law [that needs] to be approved as soon as possible", says Florin Citu.

He explained that the law will undergo an emergency procedure because "there are companies that, the day after this law is approved, will begin extracting natural gas and put it on the market."

Black Sea Oil and Gas operates the first of the three major offshore projects in Romania's offshore area and it expects to begin production in the second half of this year.

Senate head Florin Citu also mentioned the need to boost the country's coal production. He mentioned the Executive's plans to restart those power generation capacities that burn coal.

(Photo: Pixabay)