Romgaz’s $1 Billion Acquisition of ExxonMobil Exploration and Production Romania Limited

In UK Dentons, advised on the matter.

Dentons advised Romgaz with a team including Humphrey Douglas (Picture – Corporate M&A).

Romgaz executed the acquisition of the shares of ExxonMobil Exploration and Production Romania Limited (EMEPRL). EMEPRL holds 50% of the rights and obligations under the Petroleum Agreement for the East Area, Deep Water Zone, of the Black Sea XIX Neptune offshore block. This transaction will allow Romgaz to achieve the objectives in its development strategy for the period 2021-2030.

As one of the world’s largest publicly traded energy providers and chemical manufacturers, ExxonMobil develops and applies next-generation technologies to help safely and responsibly meet the world’s growing needs for energy and high-quality chemical products.

Romgaz is the largest natural gas producer and the main supplier in Romania. It is a joint stock company whose majority shareholder is the Romanian State owning a 70% stake. The company is listed on Bucharest Stock Exchange and GDRs are transacted on London Stock Exchange.

The Dentons UK international M&A team included Partner Douglas Humphrey (Picture), assisted by senior associate Torquil Law and associate Parisa Ahmadian (Dentons UK), and partner Claudiu Munteanu-Jipescu, Counsel Elena Vlasceanu and associates Cristina Staicu and Renata Ionescu (Dentons Bucharest).

Involved fees earner: Parisa Ahmadian – Dentons; Humphrey Douglas – Dentons; Renata Ionescu – Dentons; Torquil Law – Dentons; Claudiu Munteanu-Jipescu – Dentons; Cristina Staicu – Dentons; Elena Vlasceanu – Dentons;

Law Firms: Dentons;

Clients: Romgaz;

Author: Giulia Di Palma