Inspenet, June 28, 2023.
OMV Petrom and its associated company Romgaz announced their intention to exploit the largest natural gas field in the Black Sea, with an estimated investment of around 4,000 million euros until 2027.
Both companies approved a plan to also develop two other natural gas fields, Domino and Pelican South , located in the Neptun Deep offshore block. This fact was announced by OMV Petrom in a statement published on its official website . However, the project still requires the green light from the Romanian National Agency for Mineral Resources (ANRM).
With its 7,500 square kilometers and 1,000 meters deep, Neptun Deep will be able to contribute some 100,000 million cubic meters of natural gas from 2027, according to the established plan.
The volume exceeds the current demand of 4,300,000 homes, highlights the president of OMV Petrom, Christina Verchere, who also highlights the importance of this natural gas project to facilitate the energy transition.
However, the NGO Bankwatch Network describes this project as reckless and hopes that its implementation will be reconsidered.
Natural gas in the Black Sea
In December last year, Turkish President Recep Tayyip Erdogan announced that his country had discovered a new deposit with a reserve of 58 billion cubic meters in the Black Sea.
Days after Ankara announced its plans to reduce its dependence on imported hydrocarbons from 71% to 13% in 2053, the Turkish government reported the discovery of this deposit.
“Our Fatih drillship has discovered 58,000 trillion cubic meters of natural gas reserves at a depth of 3,023 meters underwater,” Erdogan said in his speech.
At the time, the president also recalled that Turkey’s natural gas reserves in the Black Sea amounted to 710 billion cubic meters, worth $1 trillion.
The president said that “our new exploration will pave the way for a similar one in other geological deposits adjacent to the region. We will launch new drilling as soon as possible.”
On December 19, the leaders of Turkey met to determine a route map for the supply of natural gas, in what was an alliance to face the energy crisis that the countries of the European Union (EU) are going through, a bloc that , before the Ukrainian conflict, was heavily dependent on Russian gas.
More about OMV Petrom and Neptun Deep
OMV Petrom is a leading energy company based in Romania, which has established itself as one of the main players in the exploration, production and refining of oil and natural gas in the South East European region.
Thanks to its strong position in the industry, it has managed to establish a broad portfolio of assets and operations in deep water and onshore.
For its part, the Neptun Deep marine block is an oil concession located in deep waters in the Black Sea, off the coast of Romania. This hydrocarbon exploration and production area presents high potential in terms of natural gas and oil reserves and is characterized by its strategic location and significant geographical extension, which makes it an attractive target for companies in the energy industry seeking opportunities for development and growth.
Its exploration and subsequent exploitation have required specialized technologies and equipment due to the challenging underwater conditions and the depth of the seabed. Given the strategic importance and economic potential of the Neptun Deep block, its proper and sustainable development is in the interest of both the industry and the host country.
Fountain: https://www.swissinfo.ch/spa/romanian %C3% ADa-gas_omv-petrom-invertir %C3% A1-4,000-million-euros-in-a-gas-field-in-the-black-sea/ 48609656
Photo: https://www.omvpetrom.com/en
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