Oil & Gas

OMV Petrom to Act as Operator of Neptun Deep Block if ExxonMobil Accepts Romgaz’s Offer

If ExxonMobil accepts Romgaz’s offer, OMV Petrom will act as operator of the Neptun Deep Block.

OMV Petrom, the largest energy company in South-Eastern Europe, and Romgaz, the largest gas producer and main gas supplier in Romania, cooperates to unlock Black Sea gas resources. These are of the essence for Romania’s energy security, for the success of energy transition and to generate economic growth.

“The Black Sea is a unique opportunity for Romania, and we are committed to contributing to its materialization. OMV Petrom has an experience of over 40 years as operator in the Black Sea and also benefits from international capabilities in deep-water operations of OMV group,” said OMV Petrom CEO Christina Verchere.

“We are ready to be equal partners to implement this strategic project. If our offer is accepted, OMV Petrom will become operator of the Neptun Deep Block project,” mentioned Romgaz CEO Aristotel Jude.

 

About OMV Petrom

OMV Petrom is the largest energy company in South-Eastern Europe, with an annual Group hydrocarbon production of 53 million boe in 2020. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high efficiency power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through 793 filling stations, at the end of 2020, under two brands – OMV and Petrom.

OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51% stake in OMV Petrom. The Romanian state, through the Ministry of Energy, owns a 20.6% stake in OMV Petrom, Fondul Proprietatea has 7% and 21.4% is traded freely on the Bucharest Stock Exchange and on London Stock Exchange.

OMV Petrom is the largest contributor to the state budget, with contributions of around EUR 32 billion in taxes and dividends paid between 2005 and 2020.

Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007- 2020, the company has allocated approximately EUR 72 million to develop communities in Romania, focusing on environmental protection, education, health, and local development.

On July 29th, 2020, OMV Petrom announced its support for the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD) regarding risks and opportunities on climate change.

 

About Romgaz

S.N.G.N. ROMGAZ S.A. is the largest gas producer and main gas supplier in Romania. The company is admitted for trading on the Bucharest Stock Exchange (BSE) and on London Stock Exchange (LSE). The main shareholder is the Romanian state, with a 70% stake.

The company has an extensive experience in gas exploration and production, its history starting more than 100 years ago, in 1909. ROMGAZ conducts geological exploration for the discovery of new gas fields, produces gas by exploiting the fields within the company’s portfolio, stores gas underground, makes interventions, workovers and special well operations and provides professional services for technological transportation.

As of 2013, Romgaz extended its activity by assimilating the Iernut power plant, thus becoming an electricity producer and supplier.

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