OMV Petrom and Romgaz target first gas from Neptun Deep in H1 2027
- First gas into the National Transmission System expected in the first half of 2027.
- Production plateau expected by the end of Q3 2027, estimated at around 8 bcm/year (100%).
- Development expenditure remains on budget at approximately EUR 4 billion (100%).
- Estimated recoverable volumes around 100 bcm with plateau production ~140 kboe/day sustained for nearly 10 years.
Project schedule and milestones
OMV Petrom and SNGN ROMGAZ expect first gas into the National Transmission System in the first half of 2027, with a production plateau expected by the end of Q3 2027. After first gas reaches the NTS, the project will move into a gradual ramp-up and operational performance testing phase.
Progress to date
In 2026 the Neptun Alpha shallow-water production platform and the offshore pipeline were installed and seven of ten development wells were completed. Remaining activities include drilling the remaining wells, installing and integrating subsea infrastructure, connecting offshore facilities to the transport pipeline, and executing comprehensive inspection, testing and commissioning programmes.
Reserves, production and carbon intensity
The Neptun Deep block (100%) has estimated recoverable volumes of about 100 bcm (≈700 million boe). Plateau production is estimated at roughly 140 kboe/day (around 8 bcm/year) and expected to be maintained for nearly 10 years. The Final Investment Decision was taken in June 2023. The project’s projected carbon footprint at plateau is approximately 2.2 kg CO₂/boe.
Budget and ownership
Development expenditure is reported on budget at about EUR 4 billion (100%). OMV Petrom and Romgaz each hold 50% equity; OMV Petrom is the operator and Romgaz (through Romgaz Black Sea Limited) is the non-operator, with each titleholder marketing its own gas.
Source: OMV Petrom