Romania’s Neptun Deep Black Sea Natural Gas Project, Expected to Recover 100BCM (about 3.5TCF), Begins Laying Pipeline in Anticipation of 2027 Production Startup

      In 2027, Romania is poised to become the top natural gas producer in the EU when its Neptun Deep Black Sea gas project comes online. The new gas volumes are expected to double the current combined offshore and onshore Romanian gas production. Reuters reported on May 4 that the pipeline was being laid to the field. The project is expected to contain 100 BCM (about 3.5 TCF) of recoverable gas. It is also expected to be a key resource to replace lost Russian gas volumes for Eastern Europe.

     When production gets going, Romania is expected to become a net exporter of gas and to play a greater role in the EU.

“The project is a joint venture between OMV Petrom, majority-controlled by Austria's OMV, and Romania's state-owned Romgaz.”

"It gives Romania a much bigger stage in the European Union, and this is what these big energy projects can do," OMV Petrom CEO Christina Verchere said at a ceremony on Monday to mark the official start of the pipeline work.

"I think it's a reminder to us that when you have access to indigenous natural gas here in Europe, that we should develop it and make sure that we can bring it into the market."

     Italy's Saipem supplied the two ships laying the pipeline. A total of 160km, or about 99 miles, of pipeline will be laid. This is expected to take about two months to complete. The metering plant onshore is expected to be completed by summer. There are still six wells remaining to be drilled on the project. Production platforms are now being assembled in Indonesia and Italy and are expected to be delivered later this year.

     The FID for the project was announced in June 2023, and the project appears to be on schedule. Exxon exited the project in 2019 due to Romanian regulations and low prices. In August 2022, Romgaz, an oil and gas company based in Romania, acquired ExxonMobil Exploration and Production Romania, and OMV Petrom became the operator of the project. Total investment for the project was calculated at $4.37 billion. The field has been modeled to produce 8BCM annually, or about 767MMCF/day for about 10 years. 

     The water depths in the deepwater field vary between 100 and 1000 meters. The first exploration well, the Domino-1, was drilled in 2012. Seven test wells were drilled through 2017. The Domino field will produce from six wells, and the South Pelican Field, which will tie back to the Domino Field, will produce from four wells. Drilling for the ten production wells began in March 2025, and as noted, there are six wells left to drill.

     Black Sea offshore exploration is considered to be at an early stage. Prospective areas offshore Crimea and Ukraine are not expected to be developed until after the resolution of the Russia-Ukraine War. OMV recently drilled a couple of wells offshore Bulgaria. The second well, the Krum-1, did not encounter commercial hydrocarbons, but the company plans to continue exploring offshore Bulgaria and increase its knowledge in the region. As can be seen from the maps below, the Neptun project butts up against the Han Asparuh project, which OMV is exploring in Bulgarian waters.

     The Neptun project is also expected to have some cutting-edge emissions reduction features. According to OMV:

“Neptun Deep is among the first in the industry to use continuously direct electrically heated flowlines, ensuring reliable gas transport and reducing operational costs through cutting-edge thermal management.”

“The innovative design and process technologies deliver gas with significantly lower direct carbon emissions than industry averages. At plateau production, the carbon footprint of Neptun Deep operations is expected to be around 2.2 kilograms of CO2 per barrel of oil equivalent, almost 8 times lower than the industry average.”      

     The offshore and onshore pipes will be connected through an already built state-of-the-art micro tunnel. As noted, the project is expected to have a positive economic impact for Romania, and more exploration of that region of the Black Sea is expected as well. Gas is expected to be bought by Germany, Moldova, possibly Slovakia, and likely several other Eastern European countries.

References:

 

Pipeline work starts on Romania's biggest Black Sea offshore gas project. Luiza Ilie. Reuters. May 4, 2026. Pipeline work starts on Romania's biggest Black Sea offshore gas project

Neptun Deep Gas Field Project, Black Sea: The Neptun Deep gas project located in the Black Sea, Romania, is expected to start production in 2027. July 7, 2023. Neptun Deep Gas Field Project, Black Sea, Romania

Update on Krum-1 exploration well on Han Asparuh Block, offshore Bulgaria. OMV Petroleum. April 1, 2026. Update on Krum-1 exploration well on Han Asparuh Block, offshore Bulgaria | OMVPetrom.com