Romgaz and ExxonMobil Romania agreed, on Tuesday, to extend until November 15, 2021 the exclusivity period for the negotiation regarding the takeover of the 50% participation that the American company holds in the Neptun Deep deep gas project in the Black Sea, Agerpres reports.

“In order to complete the negotiations on the acquisition transaction of 100% of the shares of ExxonMobil Exploration and Production Romania Limited and to obtain corporate approvals for the transaction, on October 5, 2021, SNGN Romgaz SA and ExxonMobil Exploration and Production Romania Holdings Ltd agreed to extend the period of exclusivity from October 15, 2021, until November 15, 2021. All the other clauses of the Exclusivity Agreement remain unchanged,” it is mentioned in a report of Romgaz submitted to the Bucharest Stock Exchange, according to e-nergia.ro.

On June 17, 2021, the parties signed an Exclusivity Agreement by which the seller granted Romgaz an exclusive right for a period of 4 months, until October 15, 2021, regarding the acquisition negotiations of all shares issued by ExxonMobil Exploration and Production Romania Limited and which represents 100% of the company’s share capital, holding 50% of the acquired rights and obligations assumed by the Concession Agreement for oil&gas exploration, development and exploitation in the perimeter XIX Neptun Deep Water Zone.

Therefore, Romgaz is negotiating with Exxon to take over the 50% stake held by the American company in the Neptun Deep deep gas project in the Black Sea.