OMV Petrom confirms Neptun Deep project is on track for first gas in 2027

The construction of the Neptun Alpha production platform on Saipem’s sites in Indonesia and Italy is progressing according to schedule, and the Neptun Deep offshore project is on track for first gas in 2027, officials of OMV Petrom (BVB: SNP) – which operates Romania’s flagship offshore project – confirmed in a statement on October 2.

“We expect to install [Neptun Alpha production platform] in 2026, followed by hook up, commissioning, and integration of the subsea production systems and pipelines. With these activities, we are on track for first gas in 2027,” stated Cristian Hubati, member of the OMV Petrom Executive Board responsible for the Exploration and Production activities.

Under the contract for Neptun Deep, Italy’s Saipem will execute Engineering, Procurement, Construction, Installation, and Commissioning (EPCIC).

The construction works for the steel jacket, the platform’s support structure, began in the Saipem yard in Arbatax, Sardinia, while the construction of the platform’s topsides began at the Saipem yard located in Karimun, Indonesia, in the first part of this year.

The jacket is the first part of the Neptun Alpha platform to be installed in the Black Sea. It will have a height of about 140 metres, a base of approximately 40 square metres, and will weigh over 7,000 tons. The topsides will be installed on this structure.

The Neptun Deep project is developed by OMV Petrom and Romgaz (through its subsidiary Romgaz Black Sea Limited), with each company having a 50% participating interest in the project. The investments necessary for the development phase are up to EUR 4 billion.

(Photo source: Facebook/OMV Petrom)