The development work of Neptun Deep began in 2012 with the first commercial discovery, and at this moment I can say that the project is on schedule, and in 2025 we are ready to start drilling on the first well, Cristian Hubati, member of the Executive Board and responsible for Exploration and Production at OMV Petrom, said on Monday in a specialized conference."We started work on the platform superstructure in Indonesia in the middle of this year. We also started working on the platform legs in Italy. We have started the works on the gas treatment and metering plant, and this is happening in the country. We started in September. Soon, in 2025, we are ready to start drilling on the first well," Hubati said.In the view of the OMV Petrom representative, the share of gas in Romania's energy mix is expected to increase by 25% by 2030.The Neptun Deep project is developed by OMV Petrom and Romgaz (through its subsidiary Romgaz Black Sea Limited), each of the companies with a 50% shareholding. The investments required for the development phase of the project are up to four billion euros.Production was estimated at about 100 billion cubic meters of natural gas, equivalent to the current annual natural gas demand of about 4.3 million households multiplied by about 30 times.OMV Petrom is the largest integrated energy producer in South-Eastern Europe, with an annual production of crude oil and gas at group level of approximately 41 million boe, in 2023. The group has a refining capacity of 4.5 million tonnes annually and operates an 860 MW high-efficiency natural gas power plant. On the retail petroleum products distribution market, the group is present in Romania and in neighbouring countries through approximately 780 gas stations, under two brands - OMV and Petrom.
Romania is set to acquire 44 AAV-7 amphibious assault vehicles from the United States after the preliminary approval decision to initiate the procurement procedure was sent from Parliament to the Ministry of Defense. The ministry had requested Parliament’s prior approval, according to legal procedures, to begin the procurement process for the amphibious assault vehicles. The […]
DN AGRAR Group (BVB: DN), the largest integrated livestock farm in Romania, and BSOG Energy, an energy company focused on developing biomethane production plants across Romania, announced a cooperation agreement for a biomethane production facility in Romania, with a total capacity of up to 15 MW. The overall investment in the facility is estimated to […]
The NATO Security Assistance and Training for Ukraine (NSATU) mission, charged with providing support to Ukraine against Russia, will have around 700 staff headquartered in bases in Germany, Poland and Romania, according to the new secretary general of the organization, Mark Rutte. NSATU is set to take over the coordination of military aid from the […]
The president of the junior ruling Liberal Party, Nicolae Ciucă, urged prime minister Marcel Ciolacu "to urgently explain what he will do so that Romania does not lose the approximately EUR 1.1bn from the Resilience Facility" suspended by the European Commission for six milestones not met by the country. Ciucă thus validates the EUR 1.1bn […]
Ford announced on October 15 that it will open in November waiting lists for Romania customers interested in buying the new fully electric model E-Tourneo Courier, produced at the Ford Otosan factory in Craiova. The first vehicle deliveries are expected in the first quarter of 2025. The E-Tourneo Courier Trend (passenger version), with a 100 […]
Ford Otosan announced on October 15 that it will open in November waiting lists for Romania customers interested in buying the new fully electric model E-Tourneo Courier, produced in the factory in Craiova. The first vehicle deliveries are expected in the first quarter of 2025. The E-Tourneo Courier Trend (passenger version), with a 100 kW […]
