Europe: Gas prices slide...

In Week 30 of 2025, European gas prices declined, with Dutch TTF prices...

Region: Heatwave drives SEE...

In Week 30 of 2025, electricity market prices rose significantly across most Southeast...

Romania: INVL Renewable Energy...

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on...

Croatia: Summary of Guarantees...

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold...
Supported byClarion Energy
HomeSEE Energy NewsRomania: Modifications of...

Romania: Modifications of the Offshore Law

Alfred Stern, CEO of OMV Group, parent company of OMV Petrom, will negotiate with the representatives of the Romanian Government the modification of the Offshore Law

OMV Petrom sued the state at the International Court of Arbitration (ICC) in Paris, claiming that certain provisions of the Offshore Law impose some limits on the way the company can use natural gas produced in the Black Sea

Christina Verchere, CEO of OMV Petrom, said that she believes that the solution can be found. She said that the Neptun Deep gas project is moving forward regardless of what happens with the arbitration process, adding that the project timeline will not be impacted at all.

In August, OMV Petrom said that the Neptun Deep offshore gas project, which the company develops in cooperation with natural gas producer Romgaz, had entered the development phase after it received regulatory approval. The development phase includes the execution of drilling activities and construction of the infrastructure necessary for the extraction of natural gas, with the first production estimated for 2027.

OMV Petrom and Romgaz will invest up to 4 billion euros in the project’s development phase, which will enable some 100 billion cubic meters of natural gas to be brought on stream. The infrastructure will consist of ten wells, three subsea production systems and associated flow lines pipelines, an offshore platform, the main natural gas pipeline to Tuzla and a natural gas metering station. 

OMV Petrom and Romgaz each hold a 50% stake in the project, with OMV Petrom also being the project’s operator.

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Europe: Gas prices slide in Week 30 amid strong supply, cooling demand

In Week 30 of 2025, European gas prices declined, with Dutch TTF prices falling below €34/MWh — the lowest level recorded since April 29, 2025. This decrease was mainly driven by steady Norwegian gas supplies and continued progress in...

Region: Heatwave drives SEE electricity prices to summer highs in Week 30 of 2025

In Week 30 of 2025, electricity market prices rose significantly across most Southeast European (SEE) countries compared to the previous week. All markets recorded weekly average prices above €100/MWh, with the exception of Türkiye. This marked the highest price...

Romania: INVL Renewable Energy Fund I secures €29.3 million loan for 71 MW solar project

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on renewable energy projects, has obtained a €29.3 million loan from Kommunalkredit Austria to finance the construction of a 71 MW solar power plant in Dolj County,...
Supported byVirtu Energy
error: Content is protected !!