OMV Petrom and Romgaz, which own 50% of Neptun Deep, will drill a new exploration well in the offshore perimeter under the commitments included in the concession contract, according to Profit.ro quoting preparatory documents. 

The companies have reportedly identified two locations for the new well, which is estimated to cost around USD 61-62 million and will require the necessary permits for both of them. In a later stage, one of the two locations will be chosen.

A number of eight such exploration wells have been previously drilled in the perimeter, with the aim of evaluating the location and size of the reserves.

OMV Petrom and Romgaz announced on March 25 the start of drilling the first natural gas exploitation well in Neptun Deep, where production is expected to begin in 2027.

iulian@romania-insider.com

(Photo source: Inquam Photos/George Calin)