S.N.G.N. ROMGAZ S.A. (Romgaz) through its subsidiary, ROMGAZ BLACK SEA LIMITED, together with OMV Petrom SA (OMV Petrom), will transmit for endorsement to the National Agency for Mineral Resources the Development Plan for two commercial fields in Neptun Deep block. ROMGAZ BLACK SEA LIMITED holds a participating interest of 50% in the Deep Water Zone of XIX Neptun offshore block, the other 50% participating interest is held by OMV Petrom, also the operator of Neptun Deep project. Neptun Deep is in line with ROMGAZ development strategy, being the development strategy in ROMGAZ Group portfolio; Neptun Deep is the natural gas project in the Romanian area of the Black Sea.

Neptun Deep block is 7,500 km2 large and is located at approximately 160 km from the shore with water depths ranging between 100 and 1,000 meters; Since 2008, the exploration activities in the Neptun Deep block have included two 3D seismic acquisition campaigns and two exploration drilling programs. The first gas discovery was in 2012; Development of commercial fields consist of an infrastructure composed of 10 wells, 3 subsea production systems and associated flow lines, an offshore platform, the main gas pipelines to Tuzla and a gas metering station. The platform generates its own energy, operating at safety and environment protection standards. The entire infrastructure will be operated remotely by means of a digital twin.

This allows process optimization and will contribute to improving environmental performance by means of efficient consumption and emission reduction; OMV Petrom and Romgaz will invest up to EUR 4 billion for the development phase of the project; Neptun Deep will supply an estimated volume of 100 bcm of natural gas; First production is planned for 2027. Production at the plateau will be approximately 8 bcm annually, for almost 10 years; Romania will become the gas producer in the European Union.