Neptun Deep
Neptun Deep is the largest natural gas project in the Romanian Black Sea and the first deepwater offshore project in Romania.
Significant benefits for Romania
Neptun Deep is a strategic project for the country, that creates strong development opportunities for Romania. The project will contribute to Romania’s energy security and independence, it will support the country's energy transition and it will contribute to its economic development.
The economic impact on the Romanian economy expected from the Neptun Deep project according to an independent study performed by Consilium Policy Advisors Group (CPAG) is:
With an estimated total volume of around 100 billion cubic meters of natural gas, Neptun Deep will position Romania as the largest gas producer in the European Union.
To give an example of the project's size: the estimated natural gas production is equivalent to ~30 times the current annual demand of ~4.3 million households.
Key facts and figures
The Neptun Deep block in the Black Sea has an area of 7,500 square km and is located at about 160 km away from the shore, in water depths ranging between 100 and 1,000 meters.The exploration, development and production rights for the Neptun Deep block are owned by OMV Petrom and Romgaz, each titleholder with a 50% stake. OMV Petrom is the project operator.
- First gas: 2027
- Estimated production: ~100 bn cubic meters natural gas
- Investments: up to 4 bn EUR, equally shared between the two partners, OMV Petrom and Romgaz
Find more details here.
Project updates
In June 2023, OMV Petrom and Romgaz announced the decision to develop Neptun Deep and approved the development plan for the Domino and Pelican South commercial fields. This plan was later endorsed by the regulator.
Following this milestone, OMV Petrom has continued to make significant progress in implementing the Neptun Deep project. Execution agreements have been signed with major international companies, that have extensive and long-lasting experience in deepwater offshore projects such as Saipem, Transocean Barents or Halliburton.
In May 2024, at Saipem's yard in Karimun, Indonesia, construction started for the topsides of the offshore gas platform. Watch the video of the First Steel Cut ceremony:
Safety is a paramount priority both for the project team, as well as for our partners. In August 2024, members of OMV Petrom's leadership met with Transocean representatives for a walkaround on the rig that will spud the wells into the Black Sea starting in 2025. Learn more on the purpose of the visit from this video:
In October 2024, OMV Petrom announced the start of the construction works for the steel jacket, platform support structure, carried out in the Saipem yard in Arbatax, Sardinia. See below the image gallery:
In November 2024, Transocean Barents, the mobile offshore drilling unit, arrived in Constanta, Romania. The rig was contracted to drill the production wells for the Neptun Deep Project. The ensure its safe voyage to the Black Sea, the rig underwent months of preparations before leaving Cartagena, Spain. Watch the video:
At the present time, aside from these ongoing developments, work is being done on multiple directions: from permitting and contracting to fabrication and drilling.
Neptun Deep’s development concept
The infrastructure required for the development of the Domino and Pelican South commercial fields includes 10 wells, 3 subsea production systems and associated flow lines, one offshore platform, the main gas pipeline to Tuzla and a gas measurement station. The platform generates its own energy, operating at the highest standards of safety and environmental protection.
The entire infrastructure will be operated remotely, through a digital twin. This allows the optimization of processes and will contribute to the improvement of environmental performance, by making energy consumption more efficient and by reducing emissions.
Timeline
Find below the milestones in the Neptun Deep project: from the first discoveries to major developments and to the estimated dates for the start of drilling and first gas :