Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. PM Ciuca: Neptun Deep perimeter gas to be...

PM Ciuca: Neptun Deep perimeter gas to be extracted no later than 2026

May 26, 2022

Prime Minister Nicolae Ciuca said on Tuesday, on the occasion of the signing of the assets takeover documents by Romgaz from Exxon for 50% of the Neptun Deep perimeter, that the gas will be extracted no later than 2026.      According to him, the estimates give guarantees that there are large enough quantities to be able to supply gas to our neighbours, both in the region and in the European Union.      "It is the activity that has been prepared so that we can continue the steps taken by the Government in order to be able to develop everything that means the capacity of the Romanian state to fulfill its objective of becoming independent in terms of energy resources, and gas is one of them. By 2026 the gas will be extracted from the Neptun Deep perimeter in the Black Sea, together with Romgaz and OMV Petrom, and we will meet our goal so that we can provide the necessary gas for our own consumption. The estimates give us guarantees that there are large enough quantities to be able to supply gas to our neighbours, both in the region and in the European Union," the prime minister told the ceremony at the Victoria Palace.      Nicolae Ciuca requested that Romgaz, together with OMV Petrom, start the investments "as soon as possible", so that the gas extraction will take place "at least" by the assumed term, that is the end of 2026.      "Practically, through what will be achieved, we will ensure the development of our own capacities, so that we can be in line with what we have assumed through the offshore bill that we submitted last month to Parliament and we ensure this way also stability and predictability of the entire energy field in Romania," he mentioned.      The ceremony at Victoria Palace was attended by the Minister of Energy, Virgil Popescu, and David Muniz, US interim chargé d'affaires in Romania.      Romgaz, the largest natural gas producer in Romania, has signed the sale-purchase contract of all shares issued (representing 100% of the share capital) by ExxonMobil Exploration and Production Romania Limited (EMEPRL) which owns 50% of the acquired rights and from the obligations assumed by the Oil Agreement for the eastern area, the deep water area of the offshore perimeter XIX Neptun in the Black Sea.      According to a press release sent by the Government, the sale-purchase contract was approved at the Extraordinary General Meeting of Shareholders of Romgaz on April 28. The completion of the transaction is conditioned by the fulfillment of the pending conditions in the contract. The purchase price paid by Romgaz will be 1,060,000,000 dollars, and can be adjusted according to the mechanisms provided in the share sale-purchase contract. Earlier, on March 22, Romgaz's Board of Directors approved this sale-purchase agreement.  

The text of this article has been partially taken from the publication:
http://actmedia.eu/daily/pm-ciuca-neptun-deep-perimeter-gas-to-be-extracted-no-later-than-2026/97444
Read in full - click here
Two new investment funds active in Romania receive financing through EU-backed PNRR

Two new investment funds active in Romania, Sparking Capital II and PCP SEE II, will receive allocations worth EUR 30 million under the National Recovery and Resilience Plan, or PNRR, after an approval from the Romanian executive and the European Investment Bank. The allocations are mediated by the European Investment Fund, a European financial institution, […]

Romania’s tax collector ANAF sees revenues up 12% in first half of 2025

The net revenues collected by Romania’s tax agency ANAF for the state budget increased by 12.2% in the first six months of 2025 compared to the same period last year, reaching RON 245.2 billion (EUR 49 billion), said outgoing ANAF president Nicoleta-Mioara Cîrciumaru. Nevertheless, the net revenues collected by ANAF are RON 3.8 billion (EUR […]

Survey: Romanians place highest trust in Army and Church, while Parliament ranks last

Romanians continue to place the most trust in the Army and the Church, while Parliament remains the least trusted institution, according to the second edition of the Informat.ro – INSCOP Research Barometer conducted between June 20–26. The monthly survey was commissioned by the news platform Informat.ro in partnership with the Strategic Thinking Group think tank. […]

Romania braces for fiery weekend as meteorologists issue Orange Code

Romania’s National Meteorological Administration, or ANM, issued on Thursday, July 3, an Orange Code warning for heatwave and heightened thermal discomfort, valid Friday and Saturday, July 4-5, in more than half the country, including Bucharest. The parts of Romania not covered by the Orange Code warning are under a Yellow Code for extremely hot weather. […]

Romania steps into the big league of fintech - Best Credit IFN becomes the first Romanian NBFI to partner with Bondster

Best Credit IFN announces the strategic partnership with the European crowdfunding platform Bondster, becoming the first Romanian non-banking financial institution (NBFI) to attract international capital through this platform. This initial round of financing marks a milestone in the company’s strategy to diversify its capital sources and rapidly scale its lending capacity in a dynamic market […]

Eastern Romania: Investigations continue in case involving Romanian IDs for Russians, Ukrainians

Another 93 searches were carried out at public institutions and private residences on Thursday, July 3, in the case of illegally-obtained Romanian identity documents for citizens of former USSR countries. Earlier this week, Romanian police completed 206 searches in the same case. Prosecutors claim that between 2023–2024, over 1,700 individuals born in the Russian Federation, […]