Frontera wins bid for hydrocarbon exploration and development in Moldova
Houston-based oil and gas company Frontera Resources Corporation has announced that its wholly owned subsidiary Frontera Resources International won the bidding for exploration and production of hydrocarbons in the Republic of Moldova.
After the successful completion of the bidding process, Frontera Resources International and the Government of Moldova will complete the respective agreements on the hydrocarbons exploration and development.
All the agreements between the Government of Moldova and Frontera Resources International are subject to mutual negotiation for appropriate terms for hydrocarbon exploration and its development outlined during the initial bidding process.
The Agency of Geology and Mineral Resources under the Ministry of Environment of the Republic of Moldova conducted the bidding process.
The Republic of Moldova is a landlocked country located in Eastern Europe, which shares its borders with Romania to the west and Ukraine to the north, east and south.
Frontera Resources focuses and conducts all its operations in the Greater Black Sea region, particularly in Georgia and Azerbaijan.
It has a main working interest in Block 12 in eastern Georgia, an area of 5,060km² that produces and exports crude oil.