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
24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
