Romania’s Romgaz eyes 20% stake in Black Sea offshore perimeter Neptun Deep

Romanian state-controlled natural gas producer Romgaz is interested in buying a 20% stake from US group Exxon Mobil's 50% stake in the Black Sea offshore project Neptun Deep, the company’s CEO Adrian Volintiru announced, quoted by Reuters.

Romgaz has recently requested the approval of its shareholders, the largest of them being the Romanian state (with more than 70%), to hire external lawyers to assist it in a potential deal, Profit.ro reported.

The Neptun Deep project in Romania’s Black Sea section is currently owned in equal proportions by Exxon and OMV Petrom.

Speaking at an energy conference, Romania’s minister of economy and energy Virgil Popescu confirmed on February 18 that Romgaz, in partnership with OMV Petrom (that would thus become major partner) and the Polish national oil and gas company PGNiG, will bid for the 50% stake in Neptun Deep put up for sale by Exxon.

“I approved the participation of Romgaz in a consortium with OMV Petrom and the Polish national oil and gas company. Romgaz will have 20% of the total exploitation in Neptun Deep. I do not know how much it would pay, there is confidential data that will be made public after approval, evaluations are made inside the consortium to see what offer can be made, there are ongoing negotiations that will probably last longer,” said Popescu.

(Photo source: Facebook/Romgaz)