Romania’s Petrom, Canada’s Sterling Leased Blocks Overlap Area Disputed At Hague - Ex Agency Head

According to him, Petrom has 80%, while Sterling has 20% of the leased surface that overlaps the one won by Romania at the International Court of Justice at The Hague, in its dispute with Ukraine.

The surface subject to the Hague decision that does not overlap to any leased surfaces totals, according to Gabudeanu, around 5,000 square kilometers and might be split into five perimeters.

The surface of the perimeters in the respective area will be established within three to six months and put up for sale afterwards, Gabudeanu added.

The International Court of Justice at The Hague drew Tuesday a new maritime border between Romania and Ukraine, settling a decade-old dispute. The ruling gives Romania 9,700 square kilometers of exclusive economic zone, accounting for 79.34% of the 12,000 sq km disputed surface, an area said to include about 70 billion cubic meters of natural gas and 12 million tons of oil.

On Wednesday, Romania’s Prime Minister Emil Boc sacked Gabudeanu, after the media reported about the approval of an appendix granting Sterling the right to extract crude oil and natural gas from the blocks XIII Pelican and XV Midia in the Black Sea.

The lease in the Black Sea was granted by the Government in 1992 and was extended, successively, by all Romania’s Governments, the decision of the latest Tariceanu Government of November 2008 not changing the content of the agreement, the National Liberal party, or PNL, stated Thursday.

 

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