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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

 

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Romania's Romgaz reaches agreement to buy 50% in Neptun Deep project from ExxonMobil

Romanian state-controlled natural gas company Romgaz announced that it reached an agreement with US energy group ExxonMobil on the terms and conditions for acquiring 100% of ExxonMobil Exploration and Production Romania Limited, the vehicle that holds 50% of the offshore perimeter XIX Neptun Deep Block.

The agreement implies the transfer of operatorship of the project to OMV Petrom following transaction completion.

This agreement will be signed subject to the endorsement of the Board of Directors and approval of the Extraordinary General Shareholders Meeting of Romgaz.

The transaction is expected to be completed in the first quarter of 2022, subject to obtaining such approvals and to the satisfaction of the conditions precedent provided in the share sale-purchase agreement.

The value of the transaction is not yet public. According to Economedia.ro, sources familiar with the deal claim that the transaction amounts to around EUR 1 billion.

Currently, ExxonMobil and OMV Petrom are equal partners in the deep-sea Neptun Deep project, where exploration has revealed deposits estimated at 42-84 billion cubic meters.

andrei@romania-insider.com

(Photo source: Pixabay.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

 

BSE

 

 

Romania's Romgaz reaches agreement to buy 50% in Neptun Deep project from ExxonMobil

Romanian state-controlled natural gas company Romgaz announced that it reached an agreement with US energy group ExxonMobil on the terms and conditions for acquiring 100% of ExxonMobil Exploration and Production Romania Limited, the vehicle that holds 50% of the offshore perimeter XIX Neptun Deep Block.

The agreement implies the transfer of operatorship of the project to OMV Petrom following transaction completion.

This agreement will be signed subject to the endorsement of the Board of Directors and approval of the Extraordinary General Shareholders Meeting of Romgaz.

The transaction is expected to be completed in the first quarter of 2022, subject to obtaining such approvals and to the satisfaction of the conditions precedent provided in the share sale-purchase agreement.

The value of the transaction is not yet public. According to Economedia.ro, sources familiar with the deal claim that the transaction amounts to around EUR 1 billion.

Currently, ExxonMobil and OMV Petrom are equal partners in the deep-sea Neptun Deep project, where exploration has revealed deposits estimated at 42-84 billion cubic meters.

andrei@romania-insider.com

(Photo source: Pixabay.com)

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