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AMERICAN COMPANY SAYS IT IS INTERESTED IN FINDING OIL AND NATURAL GAS IN MOLDOVA, AND NOT SHALE GAS

27 march, 2017
AMERICAN COMPANY SAYS IT IS INTERESTED IN FINDING OIL AND NATURAL GAS IN MOLDOVA, AND NOT SHALE GAS The Frontera Resources Corporation is interested in finding oil and natural gas in Moldova, not shale gas, maintains Corporation President Zaza Mamulaishvili.

 

He said at a news conference in Chisinau on Friday that according to the concession contact signed with the Moldovan Government for 50 years, Frontera has the right to produce shale gas, “but it does not interest us”.

 

The Frontera President explained how the company is going to deal with the owners of land plots, on which, say, oil or gas wells are going to be drilled: “If this is a cornfield, we take the richest-possible harvest and determine its cost. This will be the compensation sum we will be repaying annually”.

 

Asked by Infotag about how many jobs Frontera is going to create in Moldova, Zaza Mamulaishvili said – 300-400 for the beginning, but this figure will grow substantially when the stage of hydrocarbon production begins.

 

Asked what minimal amount of oil can make its production feasible in Moldova, the Frontera President said – 100 million barrels. For pumping out such an oil volume, about 100 oil wells will be necessary, which will be serviced by hundreds of workers.

 

According to Mamulaishvili, last 20 years Frontera has been working intensively in the Black Sea region namely in Turkey, Georgia, Romania and Ukraine.

 

“A fantastic success was achieved at our prospecting for gas in the Republic of Georgia, where proven gas amounts are sufficient to ensure the country’s gas needs for 150 years”, the Frontera president said, and expressed hope that in 3-5 years it will be possible to say the same about Moldova, too, if oil and gas are really found here.

 

Frontera specialists presume that the production of hydrocarbons in first 10-20 years should require some US$500 million of investment, which will make Moldova and energy-independent country.

 

Frontera categorically dispels assertions about the allegedly non-transparent international tender announced by the Moldovan Government to select a company for oil and gas exploration and subsequent fuel production in Moldova.

 

“No, the contest was transparent, and any willing applicant could take part in it. Frontera has become the winner of a fair contest, information about which was published on the official websites of Moldovan embassies in foreign countries, in The Economist, and on foreign websites, including the United Nations resource”, said Zaza Mamulaishvili.

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