Chevron Corp. (CVX), the second-largest U.S. energy company by market value, plans to invest at least $65 million into shale gas exploration in Romania, Ziarul Financiar reported today, citing Alexandru Patruti, who heads the country’s Mineral Resources Agency.

Chevron will explore three blocks in the southeastern region of Dobrogea near the Black Sea for at least four years after the Romanian government approved the three oil-concession agreements, Patruti told Ziarul Financiar.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net