We use cookies
to help provide you with a good experience on our website. By continuing to browse the website, you are agreeing to our use of cookies.

ExxonMobil prolongs exclusive negotiations with Romgaz for Neptun Deep

BLACK SEA
OIL & GAS

ExxonMobil prolongs exclusive negotiations with Romgaz for Neptun Deep

Romanian state-controlled natural gas company Romgaz announced the extension of the exclusivity agreement related to the negotiation of the transaction for the acquisition of 100% of ExxonMobil Exploration and Production Romania - the vehicle by which ExxonMobil group owns 50% in the Neptun Deep offshore natural gas perimeter in the Black Sea. - Romania-Insider

On October 5, Romgaz and ExxonMobil agreed to extend the exclusivity period from October 15 to November 15.

All other clauses of the Exclusivity Agreement remain unchanged.

On June 17, the parties signed an Exclusivity Agreement by which the seller has granted Romgaz an exclusivity right for four months until October 15, with respect to the negotiations for the acquisition of all shares issued by ExxonMobil Exploration and Production Romania, a company that holds 50% of the rights and obligations under the Concession Agreement for petroleum exploration, development and production in XIX Neptun Deep Block.

Relevant news

BLACK SEA
OIL & GAS
ExxonMobil to divest Romanian upstream unit for more than $1bn
Romgaz will purchase all shares in ExxonMobil Exploration and Production Romania, along with stake in the XIX Neptun Block.
GO NET ZERO ENERGY
ExxonMobil starts pre-FEED studies for carbon capture and storage hub in Southeast Australia
ExxonMobil will likely request bids for EPC contracts for the project.
GO NET ZERO ENERGY
ExxonMobil estimates $4 trillion CCS market by 2030
Amount is around 60% of forecast oil and gas market by that date.
GO CIRCULAR
Sealed Air, ExxonMobil, Ahold Delhaize USA collaborate on plastics recycling initiative
The companies say the program will create sustainable value from the recycling of flexible plastics.
GO CIRCULAR
Amcor uses ExxonMobil’s Exxtend advanced recycling technology
Amcor used 113,000t of recycled material in its packaging last year.
BLACK SEA
OIL & GAS
Romania's Romgaz borrows 325 mln euro to partly finance takeover of Exxon stake in Neptun Deep
Romgaz said it has signed a 325 million euro loan agreement with Raiffeisen Bank.