Long awaited amendments to the offshore law approved and published

Amendments brought to Offshore Law No. 256/2018

On 25 May 2022, Law no. 157/2022 („Law 157/2022”) amending Law no. 256/2018 on certain measures necessary for the implementation of oil operations by offshore oil perimeter owners (“Offshore Law”) was published in the Official Gazette of Romania no. 516 and entered into force on the same date.

Law 157/2022 is aimed at launching strategic projects for the development and exploitation of natural gas in the Black Sea in order to increase energy security, reduce dependence on imported gas and ensure the transition to clean energy sources.

Although Law 157/2022 is intended to amend the Offshore Law, it is noteworthy to mention that it also introduces provisions applicable to onshore perimeters, as shown below.

The key amendments brought by Law 157/2022 to the Offshore Law are briefly presented below.

Read more here.