Final Investment Decision for the Largest Natural Gas Project in the Romanian Black Sea

OMV Petrom, the biggest built-in energy business in South-Jap Europe, and Romgaz, the major producer and most important supplier of all-natural gasoline in Romania, approved the enhancement program for the Domino and Pelican South business normal gasoline fields in the Neptun Deep block. This will be submitted to the Countrywide Agency for Mineral Methods for endorsement. OMV Petrom is the operator, with every corporation possessing a 50% desire in the job.

OMV Petrom and Romgaz will make investments up to EUR 4 bn for the improvement phase of the task, which will permit ~100 bcm of purely natural gas to be brought on stream.

“With the closing investment conclusion for the Neptun Deep venture, we are opening a new activity-switching chapter for the Romanian vitality sector. With each other with our companion, Romgaz, we are coming into the advancement section of the to start with deepwater offshore challenge in Romania. The project will lead to Romania’s financial growth and will strengthen the country’s energy stability. To give an case in point of the project’s measurement: the estimated organic gasoline generation is equivalent to ~30 periods the existing once-a-year demand of ~4,300,000 households. It is also a major action ahead for our Method 2030 that aims at supporting the strength transition in Romania and in the location,” Christina Verchere, CEO of OMV Petrom mentioned.

“Neptun Deep is a strategic job for Romania and for the area from the standpoint of making sure the purely natural gas needs and from the viewpoint of decarbonization. Starting with 2027, we will have a new resource of all-natural fuel, which has the prospective to noticeably maximize the country’s normal gasoline output. We are happy to be element of an modern job, which will convey substantial gains to the place, in the long expression,” Razvan Popescu, Basic Manager of Romgaz, extra.

“The Neptun Deep project enters right now a new period, the final decision to invest in the progress of the fields in this perimeter is a historic a person for all intrigued parties and will bring undeniable advantages to Romania’s vitality protection and independence. We stay fully commited to obtaining the goals of this task and we are confident that the Countrywide Company for Mineral Assets will affirm, as soon as achievable, the development prepare for the Domino and Pelican South industrial fields in the Neptun Deep block, from which point the improvement phase of these fields will correctly begin,” Aristotel Jude, Deputy Common Manager of Romgaz, reported.

The infrastructure expected for the progress of the Domino and Pelican South offshore natural fuel fields consists of 10 wells, 3 subsea production programs and associated stream strains, an offshore platform, the most important purely natural gas pipeline to Tuzla and a organic fuel measurement station. The system generates its very own strength, running at the maximum benchmarks of basic safety and environmental protection. The full infrastructure will be operated remotely, via a digital twin. This allows for approach optimization and will contribute to the enhancement of environmental functionality, by making strength consumption far more productive and minimizing emissions.

1st manufacturing is estimated for 2027. Creation at the plateau will be about 8 bcm yearly (~140,000 boe/d), for just about 10 a long time.

 

About Neptun Deep

The Neptun Deep Block in the Black Sea has an spot of 7,500 sq. km and is found at about 160 km from the shore, in waters concerning 100 and 1,000 meters deep. Because 2008, the exploration routines in the Neptun Deep block have provided two 3D seismic acquisition campaigns and two exploration drilling courses.