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Neptun Deep project on schedule, drilling on first well due in 2025
The development work of Neptun Deep began in 2012 with the first commercial discovery, and at this moment I can say that the project is on schedule, and in 2025 we are ready to start drilling on the first well, Cristian Hubati, member of the Executive Board and responsible for Exploration and Production at OMV Petrom, said on Monday in a specialized conference.
"We started work on the platform superstructure in Indonesia in the middle of this year. We also started working on the platform legs in Italy. We have started the works on the gas treatment and metering plant, and this is happening in the country. We started in September. Soon, in 2025, we are ready to start drilling on the first well," Hubati said.
In the view of the OMV Petrom representative, the share of gas in Romania's energy mix is expected to increase by 25% by 2030.
The Neptun Deep project is developed by OMV Petrom and Romgaz (through its subsidiary Romgaz Black Sea Limited), each of the companies with a 50% shareholding. The investments required for the development phase of the project are up to four billion euros.
Production was estimated at about 100 billion cubic meters of natural gas, equivalent to the current annual natural gas demand of about 4.3 million households multiplied by about 30 times.
OMV Petrom is the largest integrated energy producer in South-Eastern Europe, with an annual production of crude oil and gas at group level of approximately 41 million boe, in 2023. The group has a refining capacity of 4.5 million tonnes annually and operates an 860 MW high-efficiency natural gas power plant. On the retail petroleum products distribution market, the group is present in Romania and in neighbouring countries through approximately 780 gas stations, under two brands - OMV and Petrom.