The Neptun Deep Black Sea gas extraction project, currently Romania’s largest energy initiative, is advancing not only technically but also financially – in the past nine months alone, Romgaz has paid around €400 million toward its development. OMV Petrom, the project’s operator, disclosed the total value of invoices issued to Romgaz Black Sea Limited, its project partner. According to OMV Petrom’s statement to the Bucharest Stock Exchange:“Between December 5, 2024, and September 3, 2025, OMV Petrom SA concluded/executed transactions with an affiliated party exceeding, cumulatively, 5% of the company’s net assets, according to OMV Petrom SA’s individual financial statements as of June 30, 2025, as follows: transactions of OMV Petrom SA with Romgaz Black Sea Limited totaling 2,085,146,939 RON.” As project operator, OMV Petrom signs the contracts and pays the expenses for development, which are then split 50-50 with Romgaz. Based on this, it can be estimated that in the reporting period of nine months, both companies together have already spent €800 million on project development. Neptun Deep is being developed by OMV Petrom and Romgaz, each holding a 50% stake. The total required investment for the development phase is estimated at up to €4 billion. Total production is projected at approximately 100 billion cubic meters of natural gas, with first deliveries expected in 2027. Following the investment decision in June 2023, execution contracts were signed with major international companies: the Transocean Barents drilling rig was contracted for a minimum of one and a half years, with integrated drilling services provided by Halliburton Romania. The extraction platform is being built at a Saipem shipyard in Asia. The drilling platform has already begun operations, having been deployed offshore in February. Offshore drilling is expected to last up to one and a half years.
Pulitzer Prize winner Junot Díaz, Tracy Chevalier, the author of the international best seller Girl with a Pearl Earring, and French author Michel Bussi, known for his widely translated thriller novels, are among the authors set to attend this year’s Iași International Literature and Translation Festival (FILIT), the largest literary festival in the country. They […]
Bucharest is about to welcome a culinary moment like no other. This September, the JW Marriott Bucharest Grand Hotel will host Michelin-starred Chef Theodor Falser - a name synonymous with nature-inspired haute cuisine - for three exclusive evenings that promise to delight the senses and tell stories through food. The Chef Who Cooks Nature Theodor […]
The International Monetary Fund (IMF) has endorsed Romania’s latest fiscal measures, forecasting that the economy will grow by 1% in 2025 and 1.4% in 2026, the government said Friday, September 12, after talks with a visiting IMF delegation. The delegation, led by Joong Shik Kang, met prime minister Ilie Bolojan in Bucharest to discuss the […]
The George Ciprian Theater in Buzău has unveiled “E-Waste E-Motion,” the first performance in Romania in which all characters are played by small autonomous robots, blending art, technology, and sustainability in an experimental theatrical project. “E-Waste E-Motion” is part of a broader artistic research initiative supported by the National University of Theatre and Film (UNATC) […]
With extensive experience in the luxury hospitality sector, gained as General Manager of Sofitel Legend The Grand Amsterdam and Hotel Okura Amsterdam (LHW), as well as in various Director of Operations and Business Development roles, Ms. Emmy Stoel is a seasoned professional whose career reflects a deep passion for excellence in guest service, having successfully […]
Update: The woman made her first statements on Friday afternoon after being questioned. According to Digi24, she told journalists outside a police station in Bucharest that the items were family heirlooms from the Soviet era, and that she...
