The Minister of the Economy, Adriean Videanu, announced in mid-May that "Romgaz" will be listed on the Bucharest Stock Exchange. Marcel Piteiu, the general manager of "Romgaz", said: "Following the announcement made by minister Videanu, the officials of the company have begun the discussions concerning the evaluation of the company and the drawing up of the documentation, to allow us to float 10-15% of the stock on the Bucharest Stock Exchange. At the moment it is premature to discuss about who will intermediate this listing".
The gas producer held by the state, has very ambitious projects to explore domestic and foreign oil resources. Due to the fact that the Caspian area is one of the main potential resources for the AGIR gas transport projects (Azerbaijan - Georgia - Romania) and Nabucco (Turkey - Bulgaria - Romania - Hungary - Austria), the experts of "Romgaz" are carefully reviewing the possibility of running oil operations in this area. "The specialization department of the company is at the moment reviewing the information and data acquired, and, once one or more projects materialize we will make the appropriate decisions", said Mr. Piteiu.
In association with private investors, "Romgaz" is currently exploring and exploiting oil wells in Slovakia and Poland. After the first exploration operations, in which the company paid for around 260 km of 2d seismic data (ed. note: industry-specific works) and field studies were made in order to obtain structural and geo-chemical data a series of leads were found which increased the potential of the perimeters of Svidnik, Medzilaborce and Snina.
According to the general manager of "Romgaz", higher potential areas were found in all of the three perimeters which were concessioned, thus justifying the continuation of operations and in the second stage, of the exploration of the aforementioned blocks.
