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.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
