Romania: Romgaz Expects to Wrap Exxon Deal in Q1 2022

Romanian Flag - Credit: MoiraM/AdobeStock
Romanian Flag - Credit: MoiraM/AdobeStock

Romanian gas producer Romgaz has estimated it will finalize the acquisition of a 50% stake in a Black Sea offshore gas project from Exxon Mobil in the first quarter of next year, its manager Aristotel Jude said on Wednesday.

Romgaz will ask shareholders to approve the deal at a meeting on Dec. 9. The company could pay up to $1.07 billion to Exxon.  

The other half of the long-delayed Neptun Deep offshore project is owned by Romanian OMV Petrom, majority-controlled by Austria's OMV.

(Reporting by Luiza Ilie)




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