OMV approaches Romania to pursue Govt. further milden Offshore Law
OMV CEO Alfred Stern has scheduled a visit to Bucharest for next week to negotiate with the representatives of the government the modification of the Offshore Law, according to sources familiar with the developments consulted by Hotnews.ro.
OMV Petrom sued the Romanian state at the International Court of Arbitration in Paris - ICC, claiming certain provisions of the offshore law that impose some limits on the way it can dispose of natural gas production from the Black Sea.
"I think we will find these solutions. The [Neptun Deep offshore] project is moving forward regardless of what happens with the arbitration process. The project timeline will not be impacted at all," said Christina Verchere, CEO of OMV Petrom, quoted by Financial Intelligence.
(Photo source: OMV Petrom)