Photo by Yuri Shkoda / Pexels
Photo: Yuri Shkoda / Pexels
Claren Operations, a wholly-owned subsidiary of Canadian oil and gas group Claren Energy Corp, has announced that it is entering into an agreement to purchase the remaining 60% interest in the Bobocu gas field licence in Romania from Zeta Petroleum.
When the acquisition is completed, Claren Operations will hold 100% interest in the Bobocu gas production licence. The value of the deal was not disclosed.
The company has said that closing the agreement is subject to a number of customary conditions including approval of the Romanian National Agency for Mineral Resources.
The Bobocu gas field is located in Buzau in eastern Romania in the foreland basin of the Carpathians
Drilling operations started at the Bobocu gas field, which has an area of 25 square km (9.6 square miles), in December 2016. The field was discovered in the 1980s by Romgaz, Romania's natural gas producer and main supplier.
Claren Energy is an internationally focused oil and gas company with assets in Romania and Australia.
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