OMV Petrom, the largest integrated energy producer in South-East Europe, continues to advance its activities and products in line with Strategy 2030, aimed at contributing to a lower carbon future. The company’s strategic ambition remains unchanged: to lead the energy transition in South-East Europe through three key directions — Transition to low and zero carbon, grow regional gas, and optimize traditional business. To support the implementation of Strategy 2030, OMV Petrom plans to invest EUR 11 billion from 2022 to 2030.
Strategy 2030 enables OMV Petrom to achieve significant milestones: development of the largest natural gas resource in the EU, development of the largest portfolio of new renewable energy projects in Romania; and major investments in transportation decarbonization, including renewable fuels and electric vehicle charging networks.
Christina Verchere, Chief Executive Officer of OMV Petrom, stated, “We remain committed to our transformation Strategy 2030 for a lower carbon future, while making some key adjustments: a more rapid build-out in renewables, a more ambitious target in e-mobility, and progressing with our Neptun Deep offshore gas project, on track for first gas in 2027. With rigorous capital discipline and solid financial performance, we aim to increase dividend distributions, being highly competitive versus our peers.”
The strategy also focuses on:
Transition to low and zero carbon – OMV Petrom plans to invest approximately EUR 3.7 billion in low and zero carbon projects between 2022 and 2030, aiming for these projects to contribute significantly to the Clean CCS EBIT by 2030.
Grow regional gas – With over 40 years of experience in the Black Sea, OMV Petrom focuses on offshore activities in Romania and Bulgaria. The Neptun Deep project is a cornerstone, aimed at enhancing Romania’s energy independence and economic growth, with the target of first gas production in 2027.
Optimize traditional business – The company aims to maintain operational excellence in exploration and production, refining and marketing, and gas and power sectors, while reducing the share of capital expenditures allocated to traditional assets to around 45% by 2030.
Financially, OMV Petrom aims for a higher overall return on capital employed of around 15% and an EBIT target of more than EUR 1.5 billion by 2030. The company plans to distribute around 50% of its operating cash flows as dividends, signaling robust returns to shareholders.
Regarding environmental goals, OMV Petrom is committed to achieving carbon neutrality from operations by 2050, with specific targets to reduce emissions intensity across its operations by 2030, supported by investments in carbon capture and storage technologies.
