GOVERNMENT TRANSFERRED THE RIGHT TO USE THE ACCUMULATION SITE OF VALENI AND VICTOROVCA TO THE STATE ENTERPRISE

On Wednesday, the government transferred the right to use the oil accumulation site of Valeni (Cahul) and the gas deposits of Victorovca (Cantemir) to the state enterprise “Hydrogeological Expedition of Moldova.”

As reported by INFOTAG, the Director of the State Property Agency, Roman Kozhukhar, noted that in the autumn of 2023, a decision was made to nationalize these deposits after “two decades of ineffective management” by private companies.

Prime Minister Dorin Recean instructed the Ministry of Finance and the Tax Service to assess the damage to the state resulting from the development of the deposits due to ineffective management and failure to fulfill contractual obligations to the state.

The state took control of these assets at the end of 2023. Previously, the rights to develop them belonged (since 1995) to the company Redeco (USA), and then (since 2007) to the company Valiexchimp.