OMV Petrom and Romgaz, joint titleholders of the Neptun Deep block, expect first gas production to enter the National Transmission System (NTS) in the first half of 2027. Following the successful offshore installation of the Neptun Alpha shallow-water production platform and the recent progress achieved, the project remains on track, narrowing its milestone trajectory.
Once first gas reaches the entry point NTS, the project will transition into a gradual ramp up and operational performance testing phase. Production plateau is expected to be reached by end of Q3 2027.
Christina Verchere, CEO of OMV Petrom: “Narrowing the first gas window marks a major milestone for Neptun Deep and brings us closer to production. The project will play an important role in strengthening Romania’s energy security and positioning the country as a leading gas producer in the European Union. As we move towards first gas, our focus remains on safe, efficient and reliable execution”.
Cristian Hubati, member of OMV Petrom Executive Board, responsible for Exploration and Production: “We are entering the final stages of execution. Drilling operations continue, and we are approaching the completion of key infrastructure, including the offshore pipeline and the Natural Gas Measuring Station. Once installed, all systems and facilities will be subject to comprehensive inspection, testing and commissioning before start-up. Safety and operational readiness will guide every step as we prepare to deliver first gas from one of the most important gas projects in European Union.”
Răzvan Popescu, CEO of S.N.GN. ROMGAZ S.A.: “Each completed milestone brings us closer to first gas production. Neptun Deep project continues to achieve successive key breakthroughs that will contribute directly to the energy security of Romania and the European Union, respectively. We maintain our steadfast commitment to delivering this strategic project efficiently, safely, and predictably”.
Aristotel Jude, CEO Deputy of S.N.GN. ROMGAZ S.A.: “Neptun Deep project is in an advanced stage of development, positioning us closer to first gas production. Following the successful completion of key execution milestones, upcoming activities will focus on ensuring a predictable transition toward the production phase”.
During 2026, the Neptun Deep project has made significant progress with the installation of the Neptun Alpha production platform and offshore pipeline, and the completion of seven out of ten development wells.
In the upcoming period, the project will focus on continuing the drilling of remaining development wells, installing and integrating the subsea infrastructure, connecting offshore facilities to the transport pipeline, and implementing a comprehensive testing programme.
Neptun Deep project (100%) has estimated recoverable volumes of around 100 bcm (approximately 700 mn boe) and is estimated to achieve plateau production of 140 kboe/day and maintain it for nearly 10 years. The Final Investment Decision was taken in June 2023 to deliver the project for development costs of EUR 4 bn with first gas in 2027. Neptun Deep is expected to have a carbon footprint significantly below the industry average, at approximately 2.2 kg CO₂/boe at plateau.
OMV Petrom and Romgaz hold equal equity of 50% each in the Neptun Deep project. OMV Petrom is the operator and Romgaz (through Romgaz Black Sea Limited) is the non-operator. Marketing of the gas is undertaken separately by each titleholder.