State-controlled gas company takes steps to bid for Exxon’s offshore project in RO

The management of Romanian state-controlled natural gas producer Romgaz will ask the shareholders’ vote for hiring a legal consultant to advise it in the negotiations for the purchase of the 50% stake ExxonMobil holds in the Neptun Deep offshore gas perimeter in Romania’s Black Sea.

The management’s proposal will be discussed in the General Shareholders Meeting on March 11, News.ro reported..

The meeting was summoned for “the approval of the acquisition of legal consultancy, assistance and / or external representation services for Romgaz, for the negotiation and, as the case may be, the acquisition of a participation in the offshore perimeter of XIX Neptun Deep from ExxonMobil,” reads the notice sent to the Bucharest Stock Exchange (BVB).

Prime minister Ludovic Orban spoke last month about ExxonMobil’s intention to sell its 50% stake in the Black Sea project and said that a consortium formed by Romgaz, OMV Petrom and another company could make an offer.

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