(CercleFinance.com) – ExxonMobil has reached an agreement to sell its Romanian subsidiary ExxonMobil Exploration and Production Romania to Romgaz. The sale concerns more than 1 billion dollars.
The deal includes all shares of ExxonMobil Exploration and Production Romania as well as interests in Block XIX Neptun offshore Romania.
ExxonMobil has been present in Romania’s upstream sector since November 2008.
“Our investments to date have positioned the Neptun Deep project to increase resource production in Romania and the European Union. ‘ said Liam Mallon, president of ExxonMobil Upstream Company.
The transaction is expected to close in the second quarter of 2022.
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