Authorities Preparing Geological Assessment of Oil Reserves in Valeni

Minister of Energy Dorin Junghietu has announced that geological studies are being carried out at the oil deposits in Valeni to determine whether Moldova has the potential to produce oil for its own needs. According to the minister, extensive geological exploration must be completed before any extraction can begin, providing a clear understanding of the available reserves and the prospects for developing the field, realitatea.md reports. “We will need to engage a drilling company, either through a tender procedure or an investment competition, and then begin development. However, I want to emphasize that the first step is to conduct a comprehensive and reliable geological survey in order to understand what prospects actually exist there,” Dorin Junghietu stated. The minister stressed that attracting drilling companies and installing the necessary equipment require substantial investments, which must be economically justified.