ExxonMobil prolongs exclusive negotiations with Romgaz for Neptun Deep

Romanian state-controlled natural gas company Romgaz announced the extension of the exclusivity agreement related to the negotiation of the transaction for the acquisition of 100% of ExxonMobil Exploration and Production Romania - the vehicle by which ExxonMobil group owns 50% in the Neptun Deep offshore natural gas perimeter in the Black Sea.

On October 5, Romgaz and ExxonMobil agreed to extend the exclusivity period from October 15 to November 15.

All other clauses of the Exclusivity Agreement remain unchanged.

On June 17, the parties signed an Exclusivity Agreement by which the seller has granted Romgaz an exclusivity right for four months until October 15, with respect to the negotiations for the acquisition of all shares issued by ExxonMobil Exploration and Production Romania, a company that holds 50% of the rights and obligations under the Concession Agreement for petroleum exploration, development and production in XIX Neptun Deep Block.

(Photo soure: Pixabay.com)