Romgaz aiming to advance deepwater Black Sea gas project

Offshore staff

BUCHAREST, Romania – OMV Petrom and Romanian gas producer/supplier Romgaz are interested in jointly developing the Neptun Deep block in the Romanian sector of the Black Sea.

If current operator ExxonMobil accepts Romgaz’s offer, OMV Petrom, which is already a partner in the block, will become operator.

Christina Verchere, CEO of OMV Petrom, said: “The Black Sea is a unique opportunity for Romania and we are committed to contributing to its materialization.

“OMV Petrom has over 40 years of offshore experience as operator in the Black Sea and also benefits from OMV Group’s international deepwater capabilities.”

Aristotel Jude, general manager of Romgaz, added: “We are ready to act as equal partners to make this strategic project happen.”

ExxonMobil and OMV Petrom formed a joint venture in 2008 to explore the concession which covers 7,500 sq km (2,896 sq mi), in water depths of 100-1,700 m (328-5,577 ft).

Over the next eight years the partners spent $1.5 billion on exploration and appraisal activities, including two campaigns during which eight wells were drilled.

In 2012, the Domino-1 proved gas for the first time in Romania’s deepwater sector. Most of the seven follow-up wells also encountered gas.

Further engineering activities followed in 2017 ahead of a potential final investment decision.

04/29/2021