OMV Petrom and ROMGAZ begin drilling at the Neptun Deep project in Romania

From Yahoo Finance: 2025-03-26 12:43:00

OMV Petrom and ROMGAZ have started drilling the first well in the Neptun Deep project, the largest natural gas project in the Romanian Black Sea. The project aims to boost Romania’s gas production by eight billion cubic metres annually once plateau production is achieved, with first gas expected by 2027.

The drilling of the first well in the Neptun Deep project is estimated to take two to three months, utilizing the Transocean Barents mobile drilling unit. The project aims to minimize its environmental footprint by using the CAN-ductor from Neodrill for well foundation installation.

The Neptun Deep project in Romania is progressing as planned, with integrated drilling services provided by Halliburton Energy Services Romania and Newpark Drilling Fluids Eastern Europe. The development includes three subsea production systems, a natural gas platform, and a main pipeline to Tuzla.

OMV Petrom and ROMGAZ are jointly investing up to €4bn in the Neptun Deep project, which is estimated to bring around €20bn in revenues to the Romanian state budget over its lifetime. The project aims to secure Romania’s natural gas needs domestically and position the country as a key player in the European market.

In addition to the Neptun Deep project, OMV Petrom has also started constructing a sustainable aviation fuel and renewable diesel production unit at its Petrobrazi refinery in Romania. The project aims to support long-term business activities and strengthen investment capacities, contributing to the energy transition strategy.

Read more: OMV Petrom, ROMGAZ start drilling at Neptun Deep project