OMV Petrom, Romgaz confirm production at Neptun Deep offshore gas field in H1 next year

The Final Investment Decision for the project was taken in June 2023 to deliver the project for development costs of EUR 4 billion with first gas in 2027.

“Narrowing the first gas window marks a major milestone for Neptun Deep and brings us closer to production,” said Christina Verchere, CEO of OMV Petrom.

Neptun Deep project (100%) has estimated recoverable volumes of around 100 bcm (approximately 700 mn boe) and is estimated to achieve plateau production of 140 kboe/day and maintain it for nearly 10 years.

Following the successful offshore installation of the Neptun Alpha shallow-water production platform and the recent progress achieved, the project remains on track, narrowing its milestone trajectory.

During 2026, the Neptun Deep project has made significant progress with the installation of the Neptun Alpha production platform and offshore pipeline, and the completion of seven out of ten development wells.

In the upcoming period, the project will focus on continuing the drilling of remaining development wells, installing and integrating the subsea infrastructure, connecting offshore facilities to the transport pipeline, and implementing a comprehensive testing programme.

OMV Petrom and Romgaz hold equal equity of 50% each in the Neptun Deep project. OMV Petrom is the operator, and Romgaz (through Romgaz Black Sea Limited) is the non-operator. Marketing of the gas is undertaken separately by each titleholder.