NZOG eyes Romania

New Zealand Oil & Gas is considering opportunities in Romania ahead of the expected release of 25,000sq km of oil and gas exploration acreage there this year.

Romania was one of the first oil-producing countries in the world and a major oil and gas producer through much of the 20th century. When the economy collapsed there was little new exploration.

NZOG, which has been involved in the development of the Tui oilfield off the Taranaki coast and the Pike River Coal mine in the South Island, has linked with two Australian companies to look at Romania.

"This is an interesting, low cost investment and represents just the start of an expansion beyond New Zealand," the company said.

- NZPA