Prime Minister Ilie Bolojan announced on Friday that the Oil Law has been amended by the Government to clarify international sanctions in the area of exploitation and exploration of resources, as well as the legal aspects in the event of unilateral termination of agreements in the field in which there are multiple holders.
"The second important ordinance adopted is the one amending Oil Law 238/2004, which clarifies two important aspects. On the one hand, how international sanctions are applied in the area of exploitation and exploration of petroleum resources, in such a way that the interests of our country are protected, and also clarifies the legal aspects in the event of unilateral termination of petroleum agreements in which there are multiple holders, in such a way that the interests of our country are protected", Bolojan specified, agerpres reports.
He mentioned that, on the sanctions component, an extension was agreed until the spring of next year.
"So there is no longer, let's say, immediate pressure, but this project is very important because it clarifies all these aspects and creates a legal framework in which our interests are protected in this field of exploitation, for example in the Black Sea area and in what means gas or oil resource exploitation," the prime minister emphasized.
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