February 24 (SeeNews) - Romanian natural gas producer Romgaz [BSE:SNG] is in talks to acquire the 50% stake that ExxonMobil holds in Black Sea offshore gas project Neptun Deep, energy minister Virgil Popescu said.
"Romgaz is negotiating to take over Exxon's 50% stake in the project and be part of this Black Sea gas operation in Neptune, alongside OMV Petrom. Romgaz has the capacity to do this, we had discussions on the matter," energy minister Virgil Popescu said on Tuesday during a two-day online seminar organised by local economic newspaper Ziarul Financiar.
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Popescu added that he would prefer a Romanian company such as Romgaz to join this project.
In November, former Romgaz CEO Adrian Volintiru announced that Romgaz is eyeing 20% of Neptun Deep.
ExxonMobil Exploration and Production Romania Limited (EMEPRL) and Romania's top oil and gas group OMV Petrom [BSE:SNP] hold 50% each of the deep water sector of the Neptun Block. EMEPRL is the operator.
Neptun Deep would be the second offshore gas project in the Black Sea, in which Romgaz would have a participation if it buys a stake in it. Romgaz already holds 12.2% interest in offshore joint venture exploration perimeter EX Trident, according to information available on the company's website. Lukoil Overseas Atash BV, a subsidiary of Russia's Lukoil, holds the remaining 87.8%.
Romgaz said in November that it is seeking the approval of its shareholders to hire an advisor on the possible acquisition of an unspecified stake in Neptun Deep held by ExxonMobil. Romgaz shareholders will vote on the proposal at a meeting scheduled for March 11.
Romgaz' shares traded 0.16% higher at 31.6 lei ($7.8/ 6.4 euro) on the Bucharest Stock Exchange as at 1549 CET on Wednesday.
OMV Petrom's shares changed hands up 0.95% at 0.3730 lei as at 1552 CET on Wednesday.
(1 euro=4.8743 lei)
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