Petrom’s exploration rights on the perimeters were due to expire on September 2011. The initial agreement was signed for a period of 30 years.
Patruti didn’t specify how many perimeters were included in the deal with Petrom, but he told MEDIAFAX that the oil company gave up approximately 25% of the total surface of the fields.
Petrom currently does exploration and exploitation works on 10 perimeters, Patruti added.
The oil company is 51.01%-owned by Austrian group OMV. The Economy Ministry holds a 20.63% stake in Petrom, while investment fund Fondul Proprietatea (FP.RO) owns 20.11%.
At around 14:40 local time, Petrom traded up 1.51% at RON0.303 a share in Bucharest. (EUR1=RON4.2488)