Drilling operations for the Neptun Deep offshore gas project in Romania’s Black Sea, managed by OMV Petrom, are set to commence shortly. This project is located on one of the largest natural gas reserves in the European Union.
According to Cristian Hubati, OMV Petrom’s Board Member responsible for Exploration and Production, drilling is expected to begin soon after the drilling vessel departs. Operations are slated to start within weeks, with the Transocean Barents platform, also known as Mighty Barents, scheduled to travel 160 kilometers offshore to drill ten production wells.
The Neptun Deep project holds significant potential for Romania, with the ability to double the country’s natural gas output. It could also position Romania as a net exporter of gas, aligning with the EU’s broader strategy to reduce dependence on Russian gas imports.
The site is jointly owned by OMV Petrom and state-owned Romgaz, and it is estimated to hold around 100 billion cubic meters of recoverable gas. As Romania’s largest energy investment since the construction of the Cernavoda nuclear power plant in the 1990s, the Neptun Deep project is expected to begin production in 2027.
However, the project has faced opposition. Far-right political groups in Romania have voiced concerns, arguing that exporting gas may undermine national interests. Additionally, environmental activists have raised alarms about the potential fiscal uncertainties, especially as the government seeks to reduce the EU’s largest budget deficit.
