Austrian oil and gas group OMV is again postponing an investment decision on its Black Sea exploration project and is now aiming for a decision next year at the earliest, its chief executive said on March 13.
The exploration of the Black Sea Neptun block is a joint venture between OMV’s Romanian subsidiary Petrom and U.S. major Exxon Mobil Corp., and includes the first deepwater exploration well in Romanian waters.
Exxon Mobil is considering exiting the project and OMV has signaled an interest in buying at least part of the Exxon stake.
Project Canary CEO Chris Romer recently spoke with Hart Energy to discuss responsibly sourced natural gas, ESG and how RSG fits into the drive by many across the oil and gas industry to meet aggressive climate goals and sustain a social license to operate.
Daniel Rice, former CEO of Rice Energy who now sits on the EQT board, addressed the elephant in the room earlier this month at Hart Energy’s Energy Capital Conference.
Denbury Resources and Penn Virginia mutually agreed to terminate their merger after the $1.7 billion cash-and-stock transaction faced difficult market conditions and shareholder opposition.