Romgaz Black Sea Limited

Romgaz Black Sea Limited is a wholly owned subsidiary of S.N.G.N. Romgaz S.A., Romania's largest natural gas producer and a company majority-owned by the Romanian state. Incorporated under the laws of the Commonwealth of The Bahamas with registration number 154020B, the company operates exclusively through its Romanian branch, ROMGAZ BLACK SEA LIMITED NASSAU (BAHAMAS) SUCURSALA BUCURESTI, located in Bucharest.

The entity was acquired by Romgaz in August 2022 from ExxonMobil Exploration and Production Romania Limited and renamed in October 2022. Its core activity is participation in the Neptun Deep offshore natural gas project in the deep-water area of the XIX Neptun block in the Black Sea, where it holds a 50% interest alongside OMV Petrom S.A., which acts as operator with the remaining 50% stake.

Romgaz Black Sea Limited is involved in exploration, development, and production activities targeting the Domino and Pelican South fields. The project, with estimated recoverable resources of around 100 billion cubic meters, requires investments of up to EUR 4 billion (50% attributable to the company) and is scheduled for first gas production in the first half of 2027, with annual plateau output of approximately 8 billion cubic meters. This positions the subsidiary as a key player in Romania's emerging offshore upstream sector, supporting energy security and regional supply.

As part of the Romgaz Group, the company extends the parent's long-standing onshore natural gas expertise into offshore operations, contributing to the group's diversification and long-term growth in the Romanian and Eastern European energy markets.