€4 Billion Investment to Boost Neptun Deep Project: OMV Petrom and Romgaz 

Romanian energy powerhouses, OMV Petrom and Romgaz, are committing massive investment towards the development phase of the Neptun Deep project.


Romanian energy giants, OMV Petrom and Romgaz, have unveiled a massive €4 billion investment plan to progress the development stage of the Neptun Deep project. This substantial undertaking is projected to yield approximately 100 billion cubic meters of natural gas, with production expected to commence by 2027. Regulatory Authority and the National Agency for Mineral Resources have granted approval for the development plan for the Domino and Pelican Sud natural gas fields within the Neptun Deep perimeter. The subsequent phase of the project involves the allocation of contracts, implementation of drilling operations, and establishment of infrastructure to facilitate gas extraction. As per Christina Verchere, OMV Petrom’s CEO, the Neptun Deep initiative will not only bolster Romania’s energy autonomy but also have a positive impact on the country’s socio-economic landscape. 

 The planned infrastructure comprises of 10 wells, 3 underwater production systems, an offshore platform, and a major gas pipeline towards Tuzla. The infrastructure will be remotely managed using a digital twin, leading to enhanced operational efficiency and reduced environmental impact. 

 OMV Petrom is recognized as Southeast Europe’s largest energy corporation, boasting an annual refining capacity of 4.5 million tons. Shares of OMV Petrom are held by the Romanian state (20.7%), Romanian pension funds (21.7%), and Austria’s OMV Aktiengesellschaft (51.2%). Over the period of 2005-2022, OMV Petrom has paid approximately €39 billion in fees, taxes, and dividends to the state’s coffers. 

Source: capital.ro 

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

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