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ROMGAZ becomes member of Int’l Association of Oil & Gas Producers

Oil&Gas Materials 23 January 2024 11:03 (UTC +04:00)
ROMGAZ becomes member of Int’l Association of Oil & Gas Producers
Laman Zeynalova
Laman Zeynalova
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BAKU, Azerbaijan, January 23. Romania's ROMGAZ, the third-largest producer in Europe, has joined the International Association of Oil and Gas Producers (IOGP), Trend reports via the company.

Razvan Popescu, the CEO of ROMGAZ, will represent the company as a Member Representative to the IOGP.

With a 40 percent share of Romania's total natural gas consumption, ROMGAZ is listed on the Bucharest Stock Exchange, and its GDRs are traded on the London Stock Exchange. The Romanian State holds a majority 70 percent stake as the primary shareholder. Boasting over a century of experience since its establishment in 1909, ROMGAZ specializes in gas exploration and production. The company is dedicated to geological exploration to uncover new gas reserves, methane production from its portfolio of reservoirs, and natural gas storage in underground facilities.

The IOGP serves as the global voice for the upstream oil and gas industry, with its members operating worldwide and contributing to 40 percent of the global oil and gas production. The organization is committed to promoting excellence in safe, efficient, and sustainable energy supply. Additionally, the IOGP collaborates with policymakers to establish a framework facilitating increased investments by its members in the European Union's transition toward climate neutrality by 2050.

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