British company specializing in investments in natural resources – MetalNRG PLC announced that it has entered into exclusive negotiations with a London partner, whose identity was not disclosed, in order to take over a majority stake of a Romanian oil and gas operator.

MetalNRG and its London partner are interested in taking over a 75% stake in the Romanian oil and gas company. MetalNRG stated that the Romanian company has a concession that is valid until 2034. The exclusivity period for these discussions will end at the end of February 2020, according to Agerpres.

“I am delighted that we have set up a robust business for this investment opportunity and that we have entered into the exclusive negotiation period. Due diligence operations have begun and we expect to enter into the details of this oil and natural gas concession in the coming months,” said the General Director of MetalNRG, Rolf Gerritsen.