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.
Every year, on the third Thursday of November, France celebrates the arrival of the Beaujolais Nouveau — the first wine of the harvest, young, fresh, and full of life. This joyful tradition has become a global symbol of conviviality, elegance, and the French art de vivre. In Bucharest, the celebration continues this year with an […]
The Romanian Football Federation (FRF) announced Bucharest’s candidacy to host the Europa League final in 2028 or 2029 at the National Arena, according to the FRF official website. The Europa League final represents a high-profile sporting event on a European scale. Istanbul will host the Europa League final in 2026, followed by Frankfurt in 2027. […]
Three cats from Romania received the top distinctions during the 2025 World Cat Championship held in Bucharest. Wild Forest’s Nordri, an imposing white Norwegian Forest Cat born in Romania, conquered the supreme title of 2025 World Champion, defeating over 750 cats from 35 countries. Nordri’s son, Wild Forest’s Quasar, aged 7 months, was also named […]
A report by the Romanian Court of Accounts, conducted between April and November 2024, which analyzed the organization and functioning of communes and small towns in relation to the population served, shows that, depending on the number of inhabitants, many towns and communes no longer meet the criteria for inclusion in their respective categories. According […]
An association of construction companies from Romania and Bulgaria has won the contract for building the first section of the A8 Târgu Neamț – Iași – Ungheni highway, with a bid of 4.76 billion (EUR 936 million). The contract for the 27-kilometer road can be signed within ten days if no appeals are filed. “The […]
The organizer of the march commemorating 10 years since the Colectiv club fire tragedy, Marian Rădună, was fined RON 3,000 (EUR 600) by the gendarmes because the demonstration exceeded 11:00 PM, the time set in the authorization. Approximately 200 people participated on Thursday, October 30, in the march commemorating 10 years since the tragedy at […]
