OMV Petrom and Romgaz Take FID on Neptun Deep
June 21, 2023
OMV Petrom, the largest integrated energy company in South-Eastern Europe, and Romgaz, the largest producer of natural gas in Romania, have approved the development plan for the Domino and Pelican South commercial natural gas fields in the Neptun Deep block.
The project will be the largest natural gas project in the Romanian Black Sea and will supply approximately 100bcm of natural gas. First gas is estimated for 2027, and Romania will then become the largest gas producer in the EU. Production at the plateau will be approximately 8 bcm annually (~140,000 boe/d), for almost 10 years.
OMV Petrom is the operator, with each company having a 50% interest in the project. They will invest up to EUR 4 billion for the development phase of the project.
Christina Verchere, CEO of OMV Petrom, said: "With the final investment decision for the Neptun Deep project, we are opening a new game-changing chapter for the Romanian energy sector. Together with our partner, Romgaz, we are entering the development phase of the first deepwater offshore project in Romania. The project will contribute to Romania’s economic growth and will strengthen the country's energy security. The project will contribute to Romania’s economic growth and will strengthen the country's energy security. To give an example of the project’s size: the estimated natural gas production is equivalent to ~30 times the current annual demand of ~4,300,000 households. It is also a major step forward for our Strategy 2030 that aims at supporting the energy transition in Romania and in the region.”
The infrastructure required for the development of the Domino and Pelican South offshore natural gas fields includes 10 wells, three subsea production systems and associated flow lines, an offshore platform, the main natural gas pipeline to Tuzla and a natural gas measurement station. The entire infrastructure will be operated remotely, through a digital twin.
The Neptun Deep Block in the Black Sea has an area of 7,500 square kilometers and is located at about 160 kilometers from the shore, in waters between 100 and 1,000 meters deep. Since 2008, the exploration activities in the Neptun Deep block have included two 3D seismic acquisition campaigns and two exploration drilling programs.
