ExxonMobil Exploration and Production Romania Limited

About This Project

ExxonMobil Corporation

 

ExxonMobil, the largest publicly‐traded international oil and Gas Company, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry‐leading inventory of resources, is the largest refiner and marketer of petroleum products and its chemical company is one of the largest in the world. ExxonMobil is a recognized global leader in operating complex offshore projects and has been involved in more than 32 deep water developments since 2005.

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ExxonMobil Exploration and Production Romania Limited (EMEPRL)

 

Overview

  • ExxonMobil was the first U.S. oil and gas company to work in Romania, operating as the Standard Oil Co. of New Jersey in 1903-1948.

  • ExxonMobil Exploration and Production Romania Ltd. (EMEPRL) acquired a 50 percent interest in the deepwater Neptun Deep block in the Black Sea in November 2008.

  • An upstream venture office opened in Bucharest in 2011.

  • Established downstream business in Romania in 1992.

Neptun Deep

  • In November 2008, EMEPRL (operator) and OMV Petrom executed a farm-out agreement to acquire a 50 percent interest in the deepwater portion of the Neptun Deep block.

  • In 2009-2010, acquired more than 3,000 square kilometers of 3D seismic data over Neptun Deep.

  • Drilled the Domino-1 well, the first deepwater well in Romania, which confirmed the presence of natural gas in March 2012.

  • In 2013 completed a seven-month 3D seismic study covering approximately 6,000 square kilometers in Neptun Deep.

  • Additional drilling in Neptun Deep began in July 2014.

  • In 2016 completed the most ambitious drilling program ever undertaken in the deep water Romanian sector of the Black Sea, with exemplary safety and environmental performance and fulfilling all minimum work program obligations.

  • Planning studies are currently underway to decide on Neptun Deep’s potential development plan and to assess its commerciality.

Midia Deep

  • In 2012, EMEPRL and OMV Petrom signed a transfer agreement with Sterling Resources Ltd. and Petro Ventures Europe BV to purchase hydrocarbon exploration and production rights to the deepwater portion of the XV Midia block (Midia Deep). Midia Deep is adjacent to Neptun Deep.

  • Participating interests in Midia Deep were ExxonMobil – operator (42.5 percent), OMV Petrom (42.5 percent) and Gas Plus (15 percent);

  • A 3D seismic survey was acquired over Midia Deep

  • In 2016, based on the results of geoscience and technical evaluation of the data, the Media Deep titleholders decided not to proceed with additional exploration activities in the block. Midia Deep license expired in 2016. All work program commitments for this first phase were fulfilled. The acreage has been reverted to the Romanian state.

  • ExxonMobil’s downstream office opened in Romania in 1998 and became the ExxonMobil Petroleum and Chemicals representative office in 2004.

  • In 2011, the office closed following a decision to change the business model for the Romanian market.

  • Currently, ExxonMobil markets Mobil-branded lubricants for passenger and commercial vehicle applications through a distributor network.