Exxon could remain an active part of the Neptun Deep project, in order to continue collaborating with the most possible buyer of its shares in the maritime perimeter, Romgaz, market sources told energynomics.ro. On Friday, Romgaz signed an exclusive agreement with Exxon for a period of 4 months, until October 15, which could guarantee the acquisition of up to 100% of the company ExxonMobil Exploration and Production Romania Limited, which owns 50% of Neptune Deep.
“The company is talking internally about the fact that Exxon will stay here. In fact, the new local management was mandated to have new discussions for the future partnership with Romgaz,” the quoted source also said.
Thus, through the exclusivity agreement regarding the negotiation of the acquisition transaction of 100% of the shares of ExxonMobil Exploration and Production Romania Limited presented to the Stock Exchange on Friday, it is shown that “on June 17, 2021 S.N.G.N. Romgaz S.A. and ExxonMobil Exploration and Production Romania Holdings Ltd. signed an Exclusivity Agreement by which the seller grants Romgaz an exclusivity right for a period of 4 months (until October 15, 2021) (the „Exclusivity Agreement”) with respect to the negotiations for the acquisition of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited, company that holds 50% of the rights and obligations under the Concession Agreement for petroleum exploration, development and production in XIX Neptun Deep Block.”
This new deadline also puts pressure on the ruling coalition, which must persuade Parliament to give a majority vote on the offshore law, without which the go-ahead decision of the other project partner, OMV Petrom, could not be taken.
The project to extract gas from the Black Sea, of strategic importance for Romania, which has already invested hundreds of millions of euros in the pipeline that should be the main carrier of the extracted gas, BRUA, can ensure security of supply in the medium term, until the transition to totally non-polluting energy sources.
