2023-08-03 17:15:00
OMV Petrom announced on Thursday that it signed with Saipem SpA and Saipem Romania SRL (Saipem) a contract worth approximately 1.6 billion euros, for the development of Neptun Deep, the largest natural gas project from the Romanian area of the Black Sea.
Black Sea drillingPhoto: AGERPRES
The costs related to the contract will be divided equally between the two partners, OMV Petrom and Romgaz, according to a press release from OMV Petrom.
According to the company, under the contract, Saipem will provide management, design, procurement, manufacturing, assembly, shipping, installation, testing and commissioning services for the project’s marine facilities.
In addition, the contract involves testing and commissioning for the natural gas metering station and the onshore and onshore sections of the gas production pipeline, which will be built by other contractors.
When would gas production begin in the Black Sea
Neptun Deep is the largest natural gas project in the Romanian area of the Black Sea. OMV Petrom and Romgaz will invest up to 4 billion euros for the development phase of the project. Neptun Deep will generate a production of regarding 100 billion cubic meters of natural gas, thus making the country the largest producer of natural gas in the EU, the company states. The start of production is estimated for 2027.
The infrastructure required for the development of the Domino and Pelican South offshore natural gas fields includes 10 wells, 6 in deep water (~1000m) and 4 in shallow water (~100m), 3 subsea production systems and the associated gathering pipeline network, a platform offshore in the water area of 100 meters depth, the main gas pipeline to the shore (~160km) and the Tuzla gas measuring station.
OMV Petrom is a company in which Romanian shareholders own over 42% of the shares (of which the Romanian state, through the Ministry of Energy, owns 20.7%, and 21.7% are owned by Romanian pension funds, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of Austria’s largest listed industrial companies, owns 51.2% of OMV Petrom shares, with the remaining 6.4% held by other foreign investors.
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