The Transocean Barents platform, which will drill in the perimeter Neptun Deep. Photo source: OMV Petrom
The offshore Neptun Deep gas project is in the graph and there is no risk of delaying, the institution's representatives have shown for HotNews.ro. This, after, on Thursday, an Austrian publication wrote that OMV Petrom could lose some of the Neptun Deep license as it did not make some of the investments in time.
“OMV Petrom must comply with the commitments made before the Romanian state through the oil agreements. If these obligations are not respected, the legal and contractual provisions, including the payment of penalties, will be applied,” the institution officials said.
They specify that the Ministry of Energy does not have competences in monitoring the development of oil agreements, these being monitored by ANRMPSG, which has competences including in the application of the legal and contractual provisions in this matter.
- “From the information we hold, the obligations of the oil agreement related to the development phase are respected, the Neptun Deep project being in the graph, without risks regarding the production of natural gas, which is expected to be extracted since 2027.
- Regarding the exploration phase, from the information we hold, at the moment the holder of the oil agreement negotiates with ANRMPSG the extension of the exploration phase, and if the parties will reach an agreement, it must be approved by Government Decision.
- Our commitment to strengthen Romania's energy security is firm and constant. Respecting the calendar to start production in the perimeter Neptun Deep and the rigorous application of the legal framework are essential for capitalizing on national resources, reducing imports to imports and guaranteeing a stable and safe energy system for citizens and economics ”, the ministry says.
OMV Petrom did not make some investments in time, write the Austrian journalists
OMV Petrom risks losing some of the license for the Neptun Deep Gas project in the Black Sea, as it has not made part of the investments in time, writes the Astriac Die Prese newspaper. Moreover, the company risks paying millions of euros fines.
The Neptun Deep project, developed by OMV Petrom (operator) and Romgaz is the largest natural gas deposit discovered in the last decades in the EU and would deliver the first commercial volumes in 2027. It could double the gas production of Romania and has a strategic value for the entire European Union, the publication mentions.
The Government of Romania is dissatisfied with the pace of the works. The officials from Bucharest believe that the terms are not respected and put pressure on the acceleration of the implementation.
In the discussion there are fines of the order of millions of euros, and the hardest scenario even provides for the revocation of the drilling license for part of the Neptun Deep perimeter, say the Austrian journalists.
Video spectacular images from Tuzla beach, where under the beach is a tunnel through which the gases will come from the Neptun Deep deposit
OMV, in turn, insists that the project advances according to the technical and financial plan, but the complexity of the investment and the geopolitical context in the region, including the Ukraine war, complicates the implementation.
In parallel, the Austrian group invests massively in green hydrogen in Austria, which shows that it diversifies its energy portfolio and seeks to prepare for the energy transition.
OMV Petrom: Discussions on extension of exploration license do not affect Neptun Deep development
The representatives of OMV Petrom transmitted, at the request of Hotnews.ro, that the license holders, OMV Petrom and Romgaz Black Sea, started discussions with the competent authorities to extend the exploration license.
These discussions concern exclusively the surface of the perimeter in exploration and does not affect the Neptun Deep development project.
- “OMV Petrom and Romgaz continue the exploration activities in the Neptun Deep perimeter to evaluate the potential of the Black Sea resources. In this sense, OMV Petrom, as an operator, initiated the process of obtaining the authorizations necessary to resume the exploration drilling in the area of high waters within the perimeter”.
In the last 20 years, OMV Petrom has been the largest investor in the energy sector and the largest taxpayer to the Romanian state budget, the company representatives added.
Drilling in the perimeter Neptun Deep started in March 2025
In March 2025, OMV Petrom and Romgaz announced the drilling of the first probe and stated that there are others in the next period.
“We are excited to move to the next stage of the Neptun Deep project, respectively the drilling of the ten wells that will ensure the production of natural gas, of which four on the South Pelican deposit and six on the Domino deposit.
The first probe will be drilled on the South Pelican deposit located in water with a depth of about 120 meters, the gas tank being located about 2000 meters below the bottom of the sea. We estimate that the drilling works for the ten probes will last until the fourth quarter of 2026 ”, says Cristian Hubati, member of the OMV Petrom directorate, responsible for exploration and production, at that time.
