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26. 04. 12. - 17:00

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26. 04. 12. - 17:00

Chevron’s investments worth half a billion US dollars, disclosed by mistake

Michael Leidig

The oil giant Chevron has accepted the partial declassification of the contract for shale gas exploitation sealed with the government in March, less the financial details of the investment.

Nevertheless, the figures have been published today (Thurs) by mistake on the website of the National Agency for Mineral Resources (ANRM). Instead of hiding the figures, a computer operator who posted the contract on the website, blurred them.  By clicking on the blurred images the figures became visible.

The Agency realized the error and took down the contracts from the website. But it was enough for the journalists to have a sneak peak into the figures of Chevron investments, totalling more than half billion US dollars, HotNews informs.

According to the data posted on ANRM website, the minimum compulsory investments that Chevron is bound to make in Dobrogea (South East) for shale gas extraction activities (according to the contract sealed with the Economy Ministry) is of 63 million US dollars. The investments could however reach 482 million US dollars if the oil giant would decide to further develop the existing perimeters.

In March, the government sealed two deals with Chevron for the exploitation of shale gas deposits in Barlad, Vaslui County (central Romania) and in three other areas located in Dobrogea region. Following protests against shale gas exploitation and at the request of environment activists and the opposition, the government agreed to declassify the contracts, asking Chevron for the permission. Today, only the contract on the Dobrogea exploitation deposit had been declassified.

Following protests, the American company announced it had stopped all shale gas activities in Romania this year.

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