The Interstate Committee of the Pan European Oil Pipeline has approved in a recent session the final form of the memorandum of understanding on the support of the PEOP project and the establishment of a company to develop it.

The Romanian part was represented at talks in Zagreb by a broad delegation of all interested parties.

The memorandum is now due to be signed by Energy ministers from the five participant states.

Romania is one of the five countries involved in building the Constanta-Trieste oil pipeline. A feasibility study produced by the Hill International Consortium says the benefits the project would bring Romania over the a period of 20 years would be:

- USD 2.27 billion for a transportation capacity of 40 million tons/year

- USD 3.1 bln. for a capacity of 60 billion tons/year

- USD 4.39 bln. for a capacity of 90 billion tons/year

The Constanta-Trieste pipeline is seen by many as the straightest route of oil to the heart of Europe.