* Romania can't afford not to take under consideration the potential of shale gas
The National Agency For Mineral Resources (ANRM) has ordered a study for the establishment of the new royalties system. Gheorghe Duţu, the president of the ANRM, told us that the study will be ready in autumn, and the royalties will be discussed with the operators, including those that are already exploiting oil deposits.
He said that the possibility exists of royalties being calculated separately according to the type of exploitation (on-shore, off-shore, shale gas). The president of the ANRM considers that we don't need a special law for the exploitation of shale gas and that we can't afford not to explore these resources. In November, the ANRM will put up for auction new oil perimeters, including in the Black Sea area.
In a comprehensive interview, Gheorghe Duţu talked to us about the technologies for extracting shale gas, about the Roşia Montană project, as well as about the amounts collected through royalties by the state budget.
Reporter: What is the stage of the negotiations for setting the new levels of the royalties, which is set to come into effect next year?
Gheorghe Duţu: We are at the stage of the process for the revision of the royalties. We want to create a system of royalties, which would ensure a good collection to the state budget, as well as make our country more attractive for the investments in the exploration and exploitation of the natural resources, which are expensive. If the new royalties system sets higher prices, we run the risk of no longer attracting investors, and being left without partners with which to explore and exploit the resources. I think that we should set a system by which to find the balance between the state's interest of getting higher revenues to the state budget and the interest of the investors, who ask
