OMV Petrom, the largest energy company in South-Eastern Europe and Romgaz, the largest producer and main supplier of natural gas in Romania, are cooperating to unlock the natural gas resources in the Black Sea.
These are essential for Romania’s energy security, for the success of the energy transition and for generating economic growth.
In case of acceptance of the Romgaz offer by ExxonMobil, OMV Petrom will act as operator for Neptun Deep block.
“The Black Sea is a unique opportunity for Romania and we are committed to contributing to its materialisation,” said Christina Verchere, CEO of OMV Petrom. “OMV Petrom has over 40 years of offshore experience as an operator in the Black Sea and also benefits from OMV Group’s international deepwater capabilities.”
“We are ready to act as equal partners to make this strategic project happen,” added Aristotel Jude, general manager of Romgaz. “If our offer is accepted, OMV Petrom will become the project operator.”
ExxonMobil announced in November 2019 its intention to sell its stake in the Neptun Deep project, which holds the largest offshore gas reserves found in Romania’s Black Sea section. The Neptun block is estimated to contain natural gas resources of approximately 42 to 84 billion cubic metres (bcm), which is equivalent to three to six times the annual Romanian consumption. The project can also become a significant game-changer for energy security in the Central European region.