OMV Petrom reportedly risks losing concession rights on Neptun Deep perimeter

OMV Petrom reportedly failed to submit to the National Agency for Mineral Resources (NAMR) the development plan for the Domino and Pelican Sud commercial deposits (part of Neptun Deep perimeter), for which the deadline was December, according to B1Tv.

The NAMR reportedly repeatedly requested the company, which acts as the operator of the perimeter, to submit the documents.

More precisely, the commerciality study regarding the deposits, submitted at the end of last year, fails to include the evaluation study of the geological resources and reserves for Domino and Pelican Sud and the proposed exploitation calendar.

According to information circulated around the end of last year, the operator of the perimeter (OMV Petrom) had six weeks to comply with the requirements – a deadline that already expired.

The commerciality study is the indispensable stage for starting investments, and failure to provide all the documents can result in the withdrawal of the operating license, according to Adevarul daily. It is an extreme and rather unlikely scenario, but if backed by clear regulations, it could help the state require OMV Petrom to allow state-owned Romgaz – Petrom’s partner in the project – to act as the operator of the perimeter.

OMV Petrom confirmed recently, on the occasion of a quarterly update of its operational results, that a final decision on going ahead with Neptun Deep should be expected by the mid of the year, implying that it expects no consequences for the failure to file the complete commerciality study.

(Photo source: Facebook/OMV Petrom)