ExxonMobil confirms may exit Romanian offshore gas project

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U.S. energy major ExxonMobil confirmed late on Tuesday it is weighing an exit from a long-stalled Romanian natural gas venture and has begun providing information to potential buyers. The company holds a 50% 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.

No buyer has been identified and no agreements reached with outside groups, Exxon spokesman Todd Spitler said, quoted by Reuters.

While in talks over its holdings, “we plan to continue to perform our role as operator in advancing the project, including continuing to pursue permits,” Spitler said.

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