OMV Petrom and the state-owned company Romgaz have announced a €750 million infrastructure investment for the Neptun Deep offshore gas project in the Black Sea, following the issuance of an establishment authorization by Romania’s National Energy Regulatory Authority (ANRE). This funding will cover all essential foundational work required to bring the offshore field into production.
The project includes building subsea transmission pipelines to connect the offshore platforms with the mainland, as well as installing beach underpasses, protective seawalls, and necessary road and rail access routes. Onshore infrastructure will consist of the Tuzla regulation and measurement station (SRM Tuzla), control centers, platform facilities, lighting systems, and perimeter fencing.
Neptun Deep is operated as a joint venture between OMV Petrom and Romgaz, representing Romania’s largest natural gas development and a key component of the country’s strategy to boost domestic production and reduce dependence on imported gas. The final investment decision was made in 2023, reflecting the partners’ strong commitment to meeting the project’s aggressive timeline.
Production is expected to start in 2027, with the field projected to yield up to 100 billion cubic meters of natural gas throughout its operational life. Bringing Neptun Deep online will enable Romania to become a net exporter of natural gas and enhance its position as an energy hub in Central and Southeastern Europe.