OMV Petrom’s objective is to have renewable capacities worth over 1 Gigawatt, and this will be OMV Petrom’s contribution to Romania’s target of 10 Gigawatts, OMV Petrom general manager Christina Verchere said on Thursday at the 5th edition of the Three Seas Initiative Business Forum.

In this context, Christina Verchere mentioned the partnership with CE Oltenia regarding the development of 450 Megawatts of photovoltaic capacities.

“I think the partnership with CE Oltenia is an interesting combination of companies. CE Oltenia is a coal-based electricity producer and we are a gas producer. So we have two fossil fuel companies coming together to build 450 megawatts of photovoltaic energy in Romania. We have a state company and a private one. So it’s an interesting combination of state and private companies working together as well as two fossil fuel companies producing renewable energy in Romania,” said Christina Verchere, according to Agerpres.

The director of OMV Petrom also spoke about new technologies such as carbon storage and the vital role they will play in the decarbonization process, adding that OMV Petrom is analyzing the opportunities in Romania given the existing tradition here in the oil industry and gases.

“In addition, in 2024 we will test an innovative technology for capturing and using carbon at the Petrobrazi refinery, as part of a European program,” said Christina Verchere.

Referring to the Neptun Deep project, Christina Verchere emphasized that this is a strategic project for OMV Petrom and for Romania, contributing to energy security and economic growth. Together with Romgaz, OMV Petrom will invest up to four billion euros to extract up to 100 billion cubic meters of natural gas, which will make Romania the largest producer of natural gas in the European Union.

“We have confidence in the huge potential of Romania for the development of new energy resources, which will ensure a smooth energy transition not only for Romania but also for the region”, added the CEO of OMV Petrom.