ExxonMobil is accelerating its biggest asset sales in decades with plans to divest up to USD 25 billion of oil and gas fields in Europe, Asia and Africa, Reuters reported on November 21, indicating price tags for each of the several assets the US company wants to sell.

Its 50% participation in Romanian offshore perimeter Neptun Deep has an indicated price of “around USD 250 million” - a figure that stirred some comments in local media.

“The estimate is surprising, considering the fact that Exxon claims to have invested over USD 750 million in Neptun Deep (USD 1.5 billion together with its partner OMV Petrom),” Profit.ro wrote.

On the other hand, the Romanian newswire indicates that the sum of USD 250 million is close to the USD 290 mln reported as losses during 2008-2018 by ExxonMobil Exploration and Production Romania Limited - the Romanian branch of Exxon’s Bahamas firm that owns the stake in Neptune Deep.

editor@romania-insider.com

(Photo source: Pixabay.com)