OMV Petrom entered its most intensive investment period in its hystory and the overall Capex will reach this year about 8 billion lei, as Neptun Deep project progresses according to plan, said Christina Verchere, CEO of OMV Petrom. OMV Petrom officials added that Neptun Deep timeline is on course, and first drilling will start in 2025, while the first commercial gas exploitation will keep its schedule for 2027.

”We broadly keep our February estimates for an annual organic Capex of 6.5 billion lei – almost 40% higher as compared with last year”, she said. Adding up the M&A Capex and low and zero carbon Capex, the overall volume of investments will reach about 8 billion lei, she added.

OMV Petrom closed the first half of this year (H1) with a net profit of almost 2.63 billion lei, up 178%, compared to the net result of 944 million lei recorded in the same period last year.

In the second quarter of this year, OMV Petrom reported a net profit of 1.22 billion lei, down from the first quarter of 2004 (1.399 billion lei), but up from the same period in 2023, when it reported a loss of 537 million lei.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.