Romgaz agrees to enter deepwater Romania venture

Offshore staff

BUCHAREST, RomaniaExxonMobil and OMV Petrom have agreed to grant Romgaz the option to participate in deepwater operations in the Midia block (Midia Deep) in the Romanian sector of the Black Sea.

EMEPRL and OMV Petrom signed a transfer agreement in October 2012 with Sterling Resources and Petro Ventures Europe to purchase an 85% interest in E&P rights to a portion of the XV Midia block. However, the agreement remains subject to several conditions which are in the process of being fulfilled, including approvals from relevant authorities.

Romgaz’s option to purchase a 10% participating interest will be triggered when the transfer agreement becomes effective.

The Midia Deep area is adjacent to the Neptun block, where ExxonMobil and OMV Petrom have discovered gas.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...