Estimates for the accumulation range between 42 to 84 billion cubic meters of natural gas, Gheorghe said in an interview for private television Pro TV.
According to Gheorghe, production might start in 2018, if deepwater seismic data prove the exploitation is profitable. If the investment is successful, the country may break free from natural gas dependence, she added.
Romania imports most of its natural gas from Russia.
U.S. giant ExxonMobil and OMV Petrom have signed an agreement in 2008 to explore deepwater portions of the Neptun block, some 170 kilometers offshore Romania. Under the deal, Petrom operates the initial work program, while ExxonMobil helps fund the program and provide expertise in evaluating the deepwater seismic data. Drilling started at the end of 2011.
In February this year, the two companies reported a significant gas discovery at their joint Domino-1 deepwater well in the Neptun block.
ExxonMobil Exploration and Production Romania, the local unit of ExxonMobil, plans to invest up to $1.23 billion over the next two years in drilling works at a Black Sea offshore perimeter developed together with OMV Petrom.