The signing of the sale-purchase contract for ExxonMobil Exploration and Production Romania Limited shares has not yet taken place, as certain implementation details still need to be clarified, according to Romgaz representatives.

“The signing of the sale-purchase contract of all shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited has not yet taken place, motivated by the need to clarify certain implementation details. We will continue to inform the market and investors as new information becomes available,” states a report submitted to the Bucharest Stock Exchange.

The quoted source points out that, through the current report of October 26, 2021, Romgaz estimated that the transaction will be completed in the first quarter of 2022.

The Extraordinary General Meeting of Romgaz Shareholders approved on December 10, at the second convocation, the takeover of ExxonMobil’s 50% stake in the Neptun Deep deep gas project, according to a statement sent to the Bucharest Stock Exchange, according to Agerpres.

“At the meeting of the Extraordinary General Meeting of Romgaz Shareholders, the acquisition transaction by the Company of all the shares issued by (representing 100% of the share capital of) ExxonMobil Exploration and Production Romania Limited, which holds 50% of the acquired rights and obligations under the Agreement, was approved, which owns eights of concession for oil exploration, development and exploitation in the perimeter of the XIX Neptune Deep Water Zone,” it is shown in the mentioned document.