Romania is advancing its largest offshore gas project in the Black Sea as OMV Petrom prepares for a new exploration well within the Neptun Deep concession. This initiative, undertaken in partnership with state-owned Romgaz, marks a significant step as the company initiates the permitting process for a site designated as Cormoran West.
The project has reached a pivotal stage, with authorities currently reviewing applications for environmental clearance and water management approvals necessary for drilling operations expected to begin in 2027. This timeline coincides with the anticipated production start from the Pelican South and Domino fields, which will officially launch output from the Neptun Deep development.
Cormoran West is strategically located approximately 100 kilometers from another exploration target, the Anaconda prospect. The drilling of this new well is contingent upon the completion of operations at Anaconda-1 and will focus on assessing potential reserves, including testing activities based on geological findings.
Progress at the Anaconda prospect has been notable, with OMV Petrom recently securing environmental approval to commence drilling. Initial estimates suggest that this field may contain around 30 billion cubic meters of natural gas, highlighting its importance within Romania’s energy strategy.
In support of these exploration efforts, the Romanian Government has extended the operational timeline for the Anaconda structure by two years, now set to conclude in December 2027. Concurrently, the budget for this phase has seen a substantial increase from €20 million to €50 million, reflecting a commitment to enhancing exploration capabilities.
The broader Neptun Deep project encompasses plans for ten wells across both Pelican South and Domino areas, alongside necessary subsea infrastructure and an offshore platform. Construction and installation works are projected to be completed by the end of 2026, paving the way for subsequent testing and commissioning prior to full-scale production.
