Romgaz Prepared to Cover Neptun Deep Costs, CEO Says

Transocean Barents rig used for drilling ops at Neptun Deep (Credit: Screenshot/Video by Romgaz)

Romanian state-owned gas producer Romgaz has sufficient funding lines to pay for its share of offshore project Neptun Deep for 2026, depending on whether it acquires an ailing state-owned fertilizer producer, its CEO said on Monday.

Romgaz has partnered with oil and gas group OMV Petrom to develop Neptun Deep, one of the European Union's most significant natural gas deposits, which will cost 4 billion euros evenly split. The company has been issuing euro-denominated bonds.

(Reuters - Reporting by Luiza Ilie)