Neptun Deep could become operational in 2024, increasing OMV production by 70,000 barrels per day (bpd) or nearly 11% of its 2025 horizon portfolio.

“So if Neptune (Deep) becomes operational, which we expect now, so if we make the final investment decision next year, Neptune will start producing around 2024-2025, which would still mean 70,000 barrels a day,” said OMV’s Upstream division chief Johann Pleininger to a Credit Suisse analyst, who asked whether or not the Neptun Deep production is included into the target for 2025 of 600,000 thousand barrels a day, quotes profit.ro.

Pleininger acknowledged that the current OMV production estimate of 600,000 barrels of oil equivalent by 2025 does not include Neptun Deep production. He said that OMV currently has a production of 500,000 barrels per day, which is expected to grow next year by an additional 30,000 barrels a day, as a result of increased production in Malaysia. Also, over 30,000 barrels per day will come from Malaysia by 2023-2024. In addition, production in the Achimov field, which OMV owns in Russia, of 80,000 barrels per day, will also begin. In total, 640-650 th. barrels per day, without taking into account the possible success that OMV could achieve in exploration operations in Mexico or Malaysia.