OMV Petrom, Southeastern Europe’s integrated energy player, and Romgaz, Romania’s largest producer and main supplier of natural gas, have confirmed that the first gas from the Black Sea project is expected in the first half of 2027, following the offshore installation of a production platform and the completion of seven development wells.
The two joint titleholders of the Neptun Deep block have shed light on the project’s start-up timeline, highlighting that first gas production is anticipated to enter the National Transmission System (NTS) in the first half of 2027.
Christina Verchere, CEO of OMV Petrom, commented: “Narrowing the first gas window marks a major milestone for Neptun Deep and brings us closer to production.
“The project will play an important role in strengthening Romania’s energy security and positioning the country as a leading gas producer in the European Union. As we move towards first gas, our focus remains on safe, efficient and reliable execution.”
Given the recent offshore installation of the Neptun Alpha shallow-water production platform and the progress that has been achieved, OMV Petrom and Romgaz emphasize that the project remains on track.
After first gas reaches the entry point NTS, the project will transition into a gradual ramp-up and operational performance testing phase, with the production plateau expected to be reached by the end of Q3 2027.
Cristian Hubati, Member of OMV Petrom Executive Board, responsible for Exploration and Production, said: “We are entering the final stages of execution. Drilling operations continue, and we are approaching the completion of key infrastructure, including the offshore pipeline and the Natural Gas Measuring Station.
“Once installed, all systems and facilities will be subject to comprehensive inspection, testing and commissioning before start-up. Safety and operational readiness will guide every step as we prepare to deliver first gas from one of the most important gas projects in European Union.”
The developers underline the significant progress made on the Neptun Deep project this year, with the installation of the Neptun Alpha production platform and offshore pipeline and the completion of seven out of ten development wells.
The project will now 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 program.
Răzvan Popescu, CEO of Romgaz, stated: “Each completed milestone brings us closer to first gas production. Neptun Deep project continues to achieve successive key breakthroughs that will contribute directly to the energy security of Romania and the European Union, respectively. We maintain our steadfast commitment to delivering this strategic project efficiently, safely, and predictably.”
The Neptun Deep project has estimated recoverable volumes of around 100 billion cubic meters of natural gas (bcm), or approximately 700 million barrels of oil equivalent (boe) and is estimated to achieve plateau production of 140 kboe/day and maintain it for nearly ten years.
The final investment decision (FID) was taken in June 2023 to deliver the project with development costs estimated at €4 billion. Neptun Deep is expected to have a carbon footprint of approximately 2.2 kg CO2/boe at plateau. OMV Petrom (50%) is the operator, and Romgaz, through Romgaz Black Sea (50%), is the firm’s partner.
Aristotel Jude, CEO Deputy of Romgaz, noted: “Neptun Deep project is in an advanced stage of development, positioning us closer to first gas production. Following the successful completion of key execution milestones, upcoming activities will focus on ensuring a predictable transition toward the production phase.”