ANRM proposes the mechanism through which Romgaz can take over the stakes of Lukoil and OMV Petrom in the Black Sea projects.

Romgaz could directly take over the stakes held by Lukoil and, if necessary, those of OMV Petrom in the Black Sea perimeters, due to a new mechanism proposed by ANRM. The legislative project, created against the backdrop of international sanctions targeting Lukoil, allows other partners in an oil agreement to quickly take over the share of an exclusive holder, avoiding the blockage of investments.

The measure is relevant both for the Trident perimeter – where Lukoil controls 87% – and for Neptun Deep, where Romgaz and OMV Petrom are equal partners. Meanwhile, OMV Petrom risks sanctions and even the loss of rights if it does not immediately start exploration work in the Nard and Anaconda well areas, after receiving only a one-month extension of the license.