This moment represents the actual start of the commercial fields development phase and it consists of drilling and construction of required infrastructure for exploiting and marketing natural gas.
Domino and Pelican South natural gas commercial fields development plan was submitted by ROMGAZ BLACK SEA LIMITED together with OMV Petrom for the National Agency for Mineral Resources confirmation, on June 21, 2023.
“The confirmation of Domino and Pelican South natural gas commercial reservoirs development plan, by the National Agency for Mineral Resources, represents the phase in which the actual development of commercial reservoirs begins, a new milestone for Neptun Deep Project. This important milestone is proof that the decision to invest in Neptun Deep project was an accurate one, in ROMGAZ benefit as well as ensuring and consolidating the energy security in Romania”, said Razvan Popescu, Romgaz CEO.
“We reached a major target for Neptun Deep project, namely confirmation of resources and reserves in Neptun Deep block. We will remain engaged in reaching this project’s objectives, which shall result in indisputable benefits for Romania’s energy independence. On behalf of ROMGAZ, we thank all teams that were involved in this project and the National Agency for Mineral Resources for the continuous efforts in reaching this target”, said Aristotel Marius Jude, Romgaz Deputy CEO.
Romgaz is the sole shareholder of ROMGAZ BLACK SEA LIMITED owning a 50% interest in the Neptun XIX deepwater area (“Neptun Deep”); the other 50% interest is held by OMV Petrom which is also the operator of the Neptun Deep project.
Developing the commercial fields involves an infrastructure consisting of 10 wells, 3 subsea production systems and associated flow lines pipelines, an offshore platform, the main natural gas pipeline to Tuzla and a natural gas metering station. The platform generates its own energy, operating at the highest safety and environmental protection standards. The entire infrastructure will be remotely operated through a digital twin. This allows optimizing the processes and it will improve environment performance by making energy consumption more efficient and minimizing emissions.
Romgaz and OMV Petrom will invest up to EUR4 billion in the project’s development phase and Neptun Deep shall ensure an estimated natural gas volume of 100 billion square meters. The first production is estimated in 2027.
Romgaz is the largest natural gas producer and the main supplier in Romania. The company is listed on Bucharest Stock Exchange and GDRs are traded on London Stock Exchange. The majority shareholder is the Romanian State owning a 70% stake.