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Exxon Mobil May Exit Romanian Offshore Gas Project

Gasoil News - Published on Fri, 17 Jan 2020

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Exxon Mobil confirmed that it is weighing an exit from a long-stalled Romanian natural gas venture and has begun providing information to potential buyers. Exxon spokesman Todd Spitler said “No buyer has been identified and no agreements reached with outside groups. While entertaining talks over its holdings, we plan to continue to perform our role as operator in advancing the project, including continuing to pursue permits.”

The company holds a 50 per cent stake in the Neptun Deep offshore project located in the Black Sea with Romanian OMV Petrom, majority-controlled by Austria's OMV, but the venture has been fraught with delays over the tax regime and regulations.

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Posted By : Rabi Wangkhem on Fri, 17 Jan 2020
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