National Agency for Mineral Resources (ANRM) has prepared a new draft amendment to the Petroleum Law to be submitted to Parliament after the elections, said Sorin Gal, director general of the General Management, Evaluation and Concession Resources, Reserves Oil from the National Agency for Mineral Resources (NAMR).

“Together with the two largest business associations in the oil field – ROPEPCA (Romanian Association of Oil Exploration and Production Companies) and the Association of Romanian Offshore Black Sea Concessionaries (ARCOMN) – we discussed and prepared a draft amendment to the Oil Law. Draft that probably after the elections will be submitted to Parliament and will come into discussion and vote under the new Parliament of Romania,” said Sorin Gal, according to Agerpres.

He added that it is important, through a fair and clear legislation, that companies investing in the oil industry be helped. According to Sorin Gal, biggest problem on the exploration area has been and remains access to land. If it can not be resolved, the exploration activity will run harder, costs will be higher, investor interest will decrease and Romania will not have new findings and will not be able to sustain current production in the coming years.

The law also has to clarify the situation of the offshore area, such as crossing the beaches procedures.