ExxonMobil: to Sell a Stake in Joint Venture for Gas Production in the Black Sea
US oil and gas giant ExxonMobil has agreed to sell its stake in the development of natural gas fields in the Black Sea. It will be acquired by the Romanian state-owned company Romgaz for $ 1 billion.
Exxon Mobil Corp. agreed to sell its 50% stake in the project for the development of deep-water natural gas fields in the Black Sea to the Romanian state-owned company Romgaz SA for $ 1.06 billion, ”Bloomberg reported.
The company will then be managed by another co-owner, the Bucharest company OMV Petrom.
The sale will take place if Romgaz SA receives shareholder approval.
