OMV Petrom Advances Romania's Energy Security
- Neptun Deep project aims for first gas in 2027 with up to EUR 4 bn investment.
- Anaconda-1 well to be drilled post-Neptun Deep, costing up to EUR 90 mn.
- Onshore exploration continues with extended licenses in 7 blocks.
- Production licenses extended by 15 years, with changes in royalties and taxation.
Neptun Deep Development
OMV Petrom, in partnership with Romgaz, is advancing the Neptun Deep project with an investment of up to EUR 4 billion. The project is on track to deliver first gas by 2027, with key activities underway to unlock approximately 100 bcm of recoverable resources. Drilling is ongoing in the Pelican South field, with plans to move to the Domino field by year-end.
Offshore Exploration
Following the Neptun Deep development, OMV Petrom and Romgaz will drill the Anaconda-1 well in the XIX Neptun Block, 200 km from Constanta. The well, with a planned depth of nearly 3,800 meters, is expected to cost up to EUR 90 million.
Onshore Exploration
OMV Petrom continues its onshore exploration efforts, supported by the extension of exploration licenses in seven blocks. These activities aim to meet Romania's energy needs through investments in seismic and drilling operations.
Production License Extension
The company is working with the National Regulatory Authority to extend its production licenses by 15 years, until 2043. This includes agreed changes in royalties and taxation to encourage future investments, with onshore royalties expected to increase by 40%. OMV Petrom will also address historical environmental and abandonment liabilities, estimated at EUR 600 million.
Source: OMV