CEO of Romanian natural gas producer Romgaz Razvan Popescu said that the company intends to issue bonds, in the first half of 2024, to finance the Neptun Deep gas project in the Black Sea.
Popescu said that Romgaz has estimated, for 2023, an investment program of over 460 million euros, of which 162 million euros are exclusively allocated for the Neptun Deep project, and the rest are for maintaining current production.
He said that, for the coming years, until the Neptun Deep project is put into production in 2026 -2027, the company will still rely on domestic onshore production. It is necessary to keep it within the limits assumed by the 2021-2023 strategy, not to decrease production by more than 2.5 %.
Romgaz made the investment decision when it acquired Exxonmobil’s stake in the Neptun Deep project and is now waiting for the investment decision of its partner, OMV Petrom, until July of this year.
The two companies estimate, in total, investments of over 4 billion euros in Neptun Deep project.
