OMV Petrom confirms the submission of the declaration of commercial discovery to the National Agency of Mineral Resources by the holders of the Neptun Deep concession, this being a first intermediate step in the process of making the final investment decision, estimated for the middle of next year.

“OMV Petrom, operator of the Neptun Deep project, confirms the submission of the declaration of commercial discovery by the concession holders. The declaration of commercial discovery represents an intermediate step in the process of making the final investment decision and starting the development. The total investment of the holders for the development of the project has been estimated at up to 4 billion euros. In the context of fulfilling all the procedural steps, the final investment decision is estimated for mid-2023, and the first gas production for the beginning of 2027,” say the representatives of OMV Petrom in a statement on Tuesday, according to Agerpres.

Last month, President Klaus Iohannis reiterated the strategic importance of the Neptun Deep project for Romania and requested the OMV management to start offshore exploitation as soon as possible within the perimeter owned by Romgaz and OMV Petrom, considering that the offshore law is a favorable one and is in force.

On that occasion, the OMV management presented the status of the project and the key steps taken, assuming the commitment to adopt the final investment decision in the middle of 2023, so that the exploitation of natural gas from the Neptun Deep perimeter will start as soon as possible.