Romanian state-owned oil and gas company Romgaz has finalized exclusive negotiations to reach an agreement with ExxonMobil Exploration and Production Romania Holdings Ltd on the terms and conditions for the acquisition of the Neptun Deep project stake, so that the deal could be finalized in the first quarter of 2022, Romgaz said in a Tuesday release to the Bucharest Stock Exchange."SNGN Romgaz SA and ExxonMobil Exploration and Production Romania Holdings Ltd. have finalized exclusive negotiations and reached an agreement on the terms and conditions for the acquisition of all the shares issued by (representing 100 percent of the share capital of) ExxonMobil Exploration and Production Romania Limited, which holds 50 percent of the acquired rights and obligations committed to under the Leasehold Agreement for oil exploration, development and exploitation in the XIX Neptun Deep block, as well as regarding the transfer of the project operations to OMV Petrom SA starting with the date of the transaction's completion," the report states.After getting the nod of the Romgaz S.A Board of Directors and the approval of the company's shareholders' Extraordinary General Meeting, the agreement will materialize in the signing of the stake purchase contract. Depending on these approvals and the fulfillment of the suspensive conditions set forth by the purchase contract, it is estimated that the transaction will be completed in the first quarter of 2022.ExxonMobil and OMV Petrom are currently equal partners in the Neptun Deep deepwater project, where exploration has revealed deposits estimated at 42-84 billion cubic meters.ExxonMobil announced its intention to exit Romania, and OMV Petrom said it might decide next year to invest in the Neptun Deep project, depending on the legislative changes in Romania and on the market situation.
One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a new lease agreement for the relocation of Cencora Romania’s headquarters within One Cotroceni Park, the most modern business ecosystem in Bucharest. Cencora is a global leader in pharmaceutical solutions, dedicated to improving […]
The investment includes the modernization of the production unit in Crevedia and the launch of PIUA, Maidan’s first premium spreadable product range, responding to the growing demand in the ready-to-eat market. Maidan, a company active in corporate and private event catering, industrial catering and the development of its own gastronomic products, announces a total investment […]
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a new lease agreement for the relocation of Cencora Romania’s headquarters within One Cotroceni Park, the most modern business ecosystem in Bucharest. Cencora is a global leader in pharmaceutical solutions, dedicated […]
Unanimously adopted, the Nordis Law marks a decisive moment for Romania’s residential market. It introduces a set of rules designed to protect buyers, hold developers accountable, and reduce speculative risks, with a strong focus on transparency and stability. Under the new legislation, the reservation fee cannot exceed 5% of the property value, reservation contracts cannot […]
Via Dobrogeana, a planned trail covering the southeastern part of the country, aims to offer travelers the opportunity to explore the region's cultural and ethnic diversity. The trail will be about 850 km long, stretching from the 17th-century Sfânta Precista Monastery in Galați to Ialomița County. Via Dobrogeana will be a mixed route. In addition […]
Police and prosecutors carried out 25 searches in Romania and Italy on Tuesday, November 18, aiming to dismantle a group made up of four families, who allegedly sexually exploited, mainly in Italy, more than 30 victims. After the searches, 19 people were detained, and two others were placed under judicial control for forming an organized […]
