Pipes for the Midia Gas Infrastructure project in port
Clock ticks on Romgaz Black Sea deal
The state-owned firm has just over three weeks left on an exclusivity agreement for a transaction key to unlocking Romania’s offshore potential
A four-month exclusivity clause on the offer by Romania’s Romgaz to purchase ExxonMobil’s E&P business in the country, which includes a 50pc stake in the undeveloped offshore Neptun Deep discovery, will expire on 15 October. The deal could be pivotal to the change of a law that has retarded offshore development in the southeast European state. Romgaz and the US major struck the agreement in mid-June after an April offer by the state-owned gas firm for ExxonMobil’s Neptun Deep stake. The firm’s government owner has been a keen supporter of bringing these gas reserves into Romanian hands, according to consultancy Rystad Energy, as doing so offers greater domestic control of a project that
Also in this section
27 May 2025
Country is boosting domestic energy production while targeting development of oil and gas reserves in Africa and Asia
27 May 2025
A newly formed joint venture between Saudi Aramco and Sinopec signals rising Gulf interest in the Asian market
23 May 2025
LNG projects need the certainty of long-term contracts, but Henry-Hub–linked deals put buyers at significant risk
22 May 2025
Industry says compliance is near-impossible and have called for more clarity to prevent cargoes being redirected
