Romania is the largest producer of oil and gas in Central and Eastern Europe and is set to play a major role in the European oil and gas market as a result of the oil and gas discoveries in the Black Sea.
One of the pre-requisites for a new drive in the national energy industry is clarifying and laying down the legislative foundation and as such, Romania is going through a period of change with big decisions being made in various laws and regulations in the energy market.
There is an obvious need for a fast upgrade of the energy governance system and a modernising of the legislative framework and the regulatory bodies involved. This event will provide essential information on the government’s strategy plan and will involve an open debate with all the industry players on the best practices to drive the national energy business forward.
Understanding the impact to Offshore projects of new legislations
Offshore projects have a long investment cycle, are typically planned out more than a decade in advance, and require significant upfront financial investment by the companies developing the
project – it can take 10 to 15 years before production can begin.
As with any complex and capital-intensive projects, a stable investment and legislative climate is critical to encourage resource developments.
The stability and predictability of Romania’s legislative environment and fiscal regime, over the lifetime of oil and gas projects are pre-requisites to successfully unlock Romania’s offshore energy resources.
There is need for governments to establish stable fiscal terms
Over 80 governments around the world acknowledge the need for stable fiscal terms, especially for the oil and gas industry, and have fiscal stabilisation clauses embedded in their legal and/or contractual framework.
Recent examples where national governments have introduced a new or revised fiscal regime, but maintained existing terms for current titleholders, include Brazil, Canada, Croatia, Greece, Ireland, New Zealand and the U.S.
This event will discuss the impact of the new laws and how this will affect stability in the oil
and gas markets in Romania.
There will be an opportunity for all to be involved in the discussion -to ask the necessary questions and to get the information needed to ensure everyone is prepared.
The event will give clarity on the energy infrastructure needed in the region with participation from all the national and regional industry players who will present and debate their strategy plans for the Black Sea.
Who Should Attend
This event is targeted at
– Presidents & Board Members;
– Heads of Policy;
– Strategy Directors;
– Exploration & Production Directors;
– Project Developers & Engineers;
– Product Developers;
– Pipeline Managers;
– Business Development Directors From Oil & Gas Companies, Government & Energy Advisers, Legal Representatives, Consultants, Tech suppliers to the industry and energy journalists.