The National Agency for Mineral Resources (ANRM) officially approved the termination of concession oil agreements signed in 2011 by the American giant Chevron with the Romanian state for shale gas perimeters Adamclisi, Vama Veche and Costinesti in Dobrogea, agreements to which Chevron intended to give up in 2015, but which were maintained in force due to a dispute with the Bucharest authorities.

The litigation was decided at the International Arbitral Tribunal in Paris, according to profit.ro, and meant compensation to the Romanian state by USD 90 million.

According to ANRM’s decisions, the three oil concessions ceased as a result of the renunciation by the holder, and Chevron fulfilled all the obligations stipulated by the law in this situation – provided to ANRM all the documentation regarding the activity carried out until notification and its results.