ExxonMobil Exploration and Production Romania Ltd., a subsidiary of ExxonMobil Corp., Irving, Texas, (NYSE: XOM), has signed an agreement with Petrom SA to help explore deepwater portions of the Neptun Block offshore Romania.

ExxonMobil and Petrom, Romania's largest oil and gas company, will cooperate on a 3D seismic acquisition and evaluation program of the Neptun Block. ExxonMobil says the deal is its second major venture in the Black Sea in two weeks.

Elwyn C. Griffiths, ExxonMobil Exploration Co. vice president of business development, says, "We are pleased to assist Petrom in its Romanian offshore exploration program. ExxonMobil has considerable expertise in all facets of deepwater exploration and we see this as an opportunity to apply that experience in a new and promising region."

Petrom executive board member Johann Pleininger says, "Petrom looks forward to working with ExxonMobil. This co-venture with ExxonMobil is an important step for Petrom to explore the hydrocarbon potential in the Black Sea."

ExxonMobil has had operations in Romania for more than 100 years, including oil production and refining and marketing of lubricants.