RomaniaThe blocks in the Black Sea that are exploited by Canada’s Sterling Resources contain natural gas, but their exact quantity has not been evaluated yet, the president of Mineral Resources Agency ANRM, Gelu Agafiel Maracineanu, said Tuesday."There certainly is a quantity of gas there, but an evaluation has not been completed yet. According to the Oil Law in 2004, the development and exploitation works of commercial oil deposits could be performed only for the reserves confirmed by the certified body, namely ANRM, upon the leaseholder’s proposition (e.n. Sterling Resources). The holder draws up the papers on the calculation of the deposits. ANRM has not received yet the papers to calculate the reserves and no reserve has been confirmed yet, upon the holder’s proposition," Maracineanu told MEDIAFAX. Maracineanu added that according to some forecasts, the Black Sea perimeters allegedly contain 18.2 billion cubic meters of gas, but Sterling has not submitted clear data on that issue. Sterling is entitled to exploit the crude oil and natural gas reserves in blocks XIII Pelican and XV Midia in the Black Sea.Sterling Resources officials said in 2008 the forecasted reserves amount to 15 billion cubic meters of gas and they could start production in 2011. This represents 83% of Romania’s annual consumption totaling around 18 billion cubic meters of gas.Last week, Romania’s Prime Minister Emil Boc announced the declassification of the appendix singed in November 2008 to the contract sealed in 1992 by ANRM and Sterling Resources.
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