Deloitte Report: Investments in Black Sea oil and gas sector will bring over 26 billion USD to the state budget
Bucharest Romania, 21 May 2018
The study covers a period of 40 years, starting with 2000 and data used for the analysis was collected from publically available sources (European Commission, ENTSO-G, ANRM, ANRE, etc.) and Deloitte’s own data and panel of experts. The forecast is based on Deloitte Central Europe assumptions regarding the evolution of the Romanian economy, in general, and of the offshore industry, in particular.
The report also presents the strategic value of the Black Sea projects; these will enhance Romania’s position in ensuring the regional energy security, after firstly securing the domestic natural gas consumption (35% of the production from the analyzed period could be exported, while the difference would cover the decline in the onshore production, in the context of increasing domestic consumption).
The impact of the offshore production on the Romanian economy was assessed using the Input-Output model conceived by US Nobel Prize winner Wassily Leontief.