Exxon’s Neptun Deep participation, estimated at USD 250 million

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Exxon has put its 50% stake in Neptun Deep up for sale, worth an estimated USD 250 million, according to Reuters. The data is reported by Reuters, without being clear about who does this estimate, either from Exxon consultants or the news agency, but given that it is included in a larger list of assets put up for sale by the US company, it seems to be an estimate rather done by consultants, writes profit.ro.

The estimate is surprising, considering the fact that Exxon claims to have invested over USD 750 million in Neptune Deep (USD 1.5 billion together with its partner OMV Petrom). On the other hand, however, the sum of USD 250 million approaches the USD 290 million (1.125 billion RON) reported as a loss in 2008-2018 by ExxonMobil Exploration and Production Romania Limited, the Romanian branch of the Bahamas firm who owns the stake in Neptune Deep.

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