"Chevron" recently obtained leases for exploration in Eastern Europe, which offer prospects to produce shale gas from the deep layers of clayey rocks with a high level of organic matter.

The company currently explores over 4 million acres (16.188 million square kilometers) on the European continent, based on the contracts it recently signed with the governments of Poland, Romania and Bulgaria, which are in effect or are in the process of being approved. If the shale is found to contain gas which can be traded, "Chevron" will develop long term production capabilities. In an interview, Tom Holst, the head of "Chevron" for Romania, talked to us about the company's interests and about the projects it has in Romania, as well as about what shale gas means and which technology is used to extract this type of gas.

Interview with Tom Holst, the head of Chevron for Romania

Reporter: At what stage is the project which you have begun in Romania?

Tom Holst: We have two areas of interest in Romania. Last year we had an interesting concession in the Bârlad region, which is located in the Vaslui county. Over there, we had some seismic reports and we are looking for potential drilling locations. So far we have investigated to see what is underground, and the next step will be to drill a well, to see whether shale gas is present.

In 2010 we have attended a call for tenders for the granting of licenses in the Dobrogea area and we had the best bid for the three areas. We are currently negotiating with the Government and the ANRM to conclude the contracts and to obtain the licenses which would allow us to begin work. At this moment, our activity is focused on the Bârlad area, where we are involved in the pre-drilling activities.

Reporter: What amount do you intend to invest in Romania?

Tom Holst: Considering that we will take it step by s