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OMV Petrom CEO: If offshore law is not amended, “when” will become “if”
Natural gas drilling in Neptune Deep are in the Black Sea will become uncertain if the offshore law is not amended and that will be a huge loss for Romania, said Christina Verchere, CEO of OMV Petrom at a press conference on Thursday.
She reminded the conditions which must be fulfilled to make the decision of developing the Neptune Deep project.
“Stability, a liberalized gas market and the existence of key infrastructure. Emergency government order 1/2020 was very important for the investors to see some progress toward returning to a liberalized market, so it is welcome. The offshore law should be also modified. We understand it will go through a parliamentary process and that is the next stage we want to see. Gas resources in the Black Sea are very important and many countries would envy Romania for them. I have always said about the Black Sea project that the question is “when?” since it is a resources which has been discovered and evaluated and lays at the basis of Romania's energy security,”Verchere said.
At the same time, Rainer Seele, the general manager of OMV group declared at a press conference held in Vienna that the offshore project Neptune from Romania would suffer a new delay, one of the reasons being announced by the American group ExxonMobile about the sale of its participation of 50% to the project, APA news agency informs.
ExxonMobile and OMV Petrom explore the deep sea Neptune resource, estimated at 42-84 billion cubic meters of gas. The two companies have equal participation in the project and the final investment decision for drilling has not been made yet.