Romanian president: Romgaz entering Neptun Deep project creates "encouraging premises"

Romanian president Klaus Iohannis said, at a meeting with a delegation of the Austrian group OMV led by the new CEO Alfred Stern, that the completion of ExxonMobil-Romgaz negotiations creates "encouraging premises" for the Neptun Deep project, the largest natural gas exploitation project in the Black Sea, to advance, Profit.ro reported.

In June, the natural gas producer Romgaz, controlled by the Romanian state through the Ministry of Energy, concluded an agreement with the American oil giant ExxonMobil under which it received an exclusive right for 4 months, until October 15, regarding the full takeover of the Romanian branch of ExxonMobil, which holds 50% of the rights related to the concession of the Neptun Deep offshore natural gas perimeter in the Black Sea. The remaining 50% of the rights are in possession of OMV Petrom.

OMV Petrom, in its turn, expects the Romanian parliament to amend the Offshore Law and thus unblock the investment decision by providing more favourable terms. The Romanian ruling coalition promised to address this obstacle this year, and president Iohannis provides now joints about when the amendments will be enacted.

(Photo source: Presidency.ro)