Romgaz convenes, on December 9 and 10, the Ordinary and Extraordinary General Meetings of Shareholders to approve the transaction regarding the takeover of ExxonMobil’s participation in the Neptun project, respectively the contracting of loans from one or more credit institutions, in total amount of 325 million euro, in order to cover a part of the acquisition price, according to a report submitted, on Tuesday, to the Bucharest Stock Exchange. According to the report, the purchase price is of $1.060 billion and can be adjusted positively by up to $10 million.

Among the items on the OGMS agenda is the approval of contracting loans from one or more credit institutions, in a total amount of 325 million euro, in order to cover a part of the purchase transaction price by Romgaz of all issued shares by ExxonMobil Exploration and Production Romania Limited and the approval of the extension of the credit facility granted by Banca Comercială Română to Romgaz, for the issuance of letters of bank guarantee up to the limit of 350 million lei.

The Board of Directors of SNGN Romgaz approved on Tuesday the acquisition of all shares issued by ExxonMobil Exploration and Production Romania Limited, which owns 50% of the Neptun Deep project, and the conclusion of the sale-purchase contract, the purchase price being of $1.060 billion, but possibly being positively adjusted by a maximum of $ 10 million, according to a report submitted to the Bucharest Stock Exchange.

Currently, ExxonMobil and OMV Petrom are equal partners in the Neptun Deep project, where exploration has revealed deposits estimated at 42-84 billion cubic meters of gas.