Romgaz has announced a binding offer to acquire 100% shares of ExxonMobil Exploration and Production Romania Limited.

Taking into account the letter sent by ExxonMobil Upstream Business Development, on February 15, 2021, providing that, the deadline for buyers to submit the binding offer is March 31, 2021, S.N.G.N. Romgaz S.A. Board of Directors endorsed on March 30, 2021 the binding offer to acquire all shares (representing 100% of the share capital) issued by ExxonMobil Exploration and Production Romania Limited, that holds 50% of the rights and obligations under the Concession Agreement for petroleum exploration, development and production in XIX Neptun Deep Block. OMV Petrom S.A. holds the other 50% participating interest, representing rights and obligations under the Concession Agreement for petroleum exploration, development and production in XIX Neptun Deep Block.

XIX Neptun Deep Block location. Source: KeyFacts Energy

The binding offer to acquire all shares (representing 100% of the share capital) issued by ExxonMobil Exploration and Production Romania Limited, as endorsed by S.N.G.N. Romgaz S.A. Board of Directors, was submitted to ExxonMobil Upstream Business Development on March 30,2021.

The binding offer and the conclusion of the transaction to acquire all shares (representing 100% of the share capital) issued by ExxonMobil Exploration and Production Romania Limited are conditional upon approval of the Extraordinary General Meeting of Shareholders of S.N.G.N. Romgaz SA.

KeyFacts Energy: Romgaz Romania country profile