The government meeting was interrupted for two hours Wednesday, for talks on the five-year extension of the 30-year interval over which Petrom has drilling rights on the Neptun block.
The meeting was interrupted when the Justice Ministry said the adequacy analysis used on the extension decision is “succinct” and it needs better “foundation”.
The lease agreement for the Neptun bloc was approved by Government decision in 2000.
On Tuesday, the government set a minimum price of 0.3708 lei (EUR0.087) a share in a secondary offer through which it wants to sell 9.84% of oil company OMV Petrom (SNP.RO), Economy Minister Ion Ariton told MEDIAFAX.
The economy minister then said the level of subscriptions in the first days was low, but the government is counting on the final days of the offering and expects the entire stake to be sold.
He added the optimism is based on two elements, which will help the company’s development in the future. One of the elements is the five-year extension of drilling rights on the Neptun block, while the other is the discovery of natural gas wells in the Totea commune, Gorj county. (EUR1=RON4.243)