ExxonMobil plans to sell Romanian affiliate for more than USD 1 billion to supports strategy to focus investments on advantaged assets, including Neptun Deep block in the Black Sea. The agreement includes all shares in ExxonMobil Exploration and Production Romania along with interest in the XIX Neptun Block offshore Romania. Operatorship on the block will transfer to its other titleholder, OMV Petrom. Employees of the Romanian affiliate will transfer as part of the sale.Transaction expected to close in second quarter ExxonMobil has been present in Romania’s upstream sector since November 2008, when it acquired an interest in the deepwater Neptun Deep block in the Black Sea.
ExxonMobil plans to sell Romanian affiliate for more than USD 1 billion to supports strategy to focus investments on advantaged assets, including Neptun Deep block in the Black Sea. The agreement includes all shares in ExxonMobil Exploration and Production Romania along with interest in the XIX Neptun Block offshore Romania. Operatorship on the block will transfer to its other titleholder, OMV Petrom. Employees of the Romanian affiliate will transfer as part of the sale.Transaction expected to close in second quarter ExxonMobil has been present in Romania’s upstream sector since November 2008, when it acquired an interest in the deepwater Neptun Deep block in the Black Sea.
