Exxon Mobil to Sell Romanian Affiliate for More Than $1 Billion to Romgaz

Exxon Mobil to Sell Romanian Affiliate for More Than $1 Billion to Romgaz

Exxon Mobil Corp said on Tuesday it will sell its Romanian upstream unit to gas maker Romgaz for more than $1 billion as the oil major focuses in its venture on assets with a minimal expense of supply. Exxon has been available in Romania’s upstream area since November 2008, when it obtained an interest in the deepwater Neptun Deep square in the Black Sea. The deal with Romgaz remembers all offers for Exxon Mobil Exploration and Production Romania alongside interest in the XIX Neptun Block seaward Romania. The organization said the deal is supposed to shut in the second quarter of 2022.

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