The state reclaims the rights to oil and gas fields in southern Moldova, which previously belonged to Redeco and Valiexchimp that subsequently absorbed it.
At a meeting on Wednesday, the Cabinet of Ministers approved a decision on the termination of the right to use hydrocarbon deposits, transferred under a concession agreement between the Moldovan government and the company for exploration and development of resources Redeco L.T.D. Also, according to this document, a takeover commission is created for the unilateral transfer of assets and property rights arising from the concession agreement. The commission will include representatives of 10 ministries, departments and specialized state enterprises, as well as the mayor's office of Valeni commune. Its nominal composition will be approved by the government separately. The commission will unilaterally transfer under the management of the Public Property Agency and the state enterprise Hydrogeological Expedition of Moldova the buildings, constructions, materials, property, which have arisen or have been obtained on the basis of the concession agreement between the Moldovan government and Redeco. At the same time, the Ministry of Environment, namely the Agency of Geodesy and Mineral Resources, will take over core samples, fluids and other data obtained as a result of exploration and exploitation of hydrocarbon deposits, probe passports and well operation reports and other documentation related to the extraction of mineral resources under the concession obligations. Valiexchimp, according to the decree, will provide support to the commission in the transfer of concession rights and the commission's access to all infrastructure available under the concession agreement. The government's decision will take effect after its publication in Monitorul Oficial (the Official Journal of Moldova). Let us remind you that in 1995, the Moldovan government signed a concession contract with Redeco (USA) for the exploration and development of oil and gas resources in Moldova (in the area of the Valeni oil field) for a 20-year term. Subsequently, Redeco's rights and obligations under the concession agreement were transferred to the Moldovan company Valiexchimp, which absorbed Redeco. Thus, the state will regain the rights to develop the fields in Valeni and Victorovca, which are located in the south of Moldova. According to the investigations, the mining activities during the concession of the hydrocarbon field by Redeco (later Valiexchimp) were carried out with irregularities, causing damage to the state and the environment. // 13.12.2023 – InfoMarket
