The first molecule of natural gas from the Black Sea could be extracted in the first half of 2027, energy minister Bogdan Ivan said on Monday, January 12, citing faster-than-expected progress on the Neptun Deep offshore project. Speaking after a meeting of the National Energy Command, he said the physical advancement of the project is slightly ahead of the initial schedule.
According to the minister, Neptun Deep is expected to reach an annual production of around 8 billion cubic meters of natural gas.
“It is a EUR 4 billion investment project, with 50% held by Romgaz, which is 70% owned by the Romanian state, and 50% by OMV Petrom. Total annual extraction will be around 8 billion cubic meters,” Bogdan Ivan stated, as quoted by Agerpres.
“Through this project, Romania will become the largest producer of natural gas in the European Union, which will be extremely useful both for household consumers and for companies in our country, especially those that consume large amounts of natural gas, such as firms in the petrochemical and fertilizer industries,” he added.
On March 25, 2025, OMV Petrom and Romgaz announced the start of drilling operations for the development of the Pelican Sud and Domino gas fields within the Neptun Deep perimeter, located some 160 kilometers offshore in the Black Sea.
irina.marica@romania-insider.com
(Photo source: Facebook/Ministerul Energiei)
