Following the decisions taken during the S.N.G.N. ROMGAZ S.A. Shareholders General Meeting held on September 22, 2022, the registration procedures with the competent authorities of Bahamas were initiated. On October 6, 2022, the documents confirming the completion of the aforementioned procedures were received,” the report reads.
The change of the company’s name from ExxonMobil Exploration and Production Romania Limited to Romgaz Black Sea Limited, as well as the consequent amendment of Article 1 of the Constitutive Act of ExxonMobil Exploration and Production Romania Limited, were approved by Decision of the General Meeting of S.N.G.N. ROMGAZ S.A. Shareholders no. 9/September 22, 2022.
On August 1, Romgaz announced the completion of the acquisition transaction and the transfer of all shares representing 100% of the share capital of US’ ExxonMobil Exploration and Production Romania Limited (EMEPRL) which holds 50% of the acquired rights and obligations under the Petroleum Agreement for the Deep Water Zone of Neptun XIX offshore Block in the Black Sea. The value of the transaction stood at $1.06 billion.
Romgaz has a market value of RON15.5 billion after its shares have gained 3.3% since the beginning of 2022, amid deals worth RON470 million, stock market data show.
Romgaz reported a profit of RON1.7 billion for the first half of 2022, up 127% on the year, and its turnover rose threefold to RON7.5 billion, as per the company’s half-year financial report.