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Romania’s Romgaz expects to complete Exxon deal in Q1 2022

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Romanian gas producer Romgaz has estimated it will finalize the acquisition of a 50% stake in a Black Sea offshore gas project from Exxon Mobil in the first quarter of next year, its manager Aristotel Jude said on Wednesday, according to Reuters.

Romgaz stated that it will ask shareholders to approve the deal at a meeting on December 9. The company could pay up to $1.07bln to Exxon.

The other half of the long-delayed Neptun Deep offshore project is owned by Romanian OMV Petrom, majority-controlled by Austria’s OMV.