OMV Petrom is advancing Romania’s largest offshore gas project in the Black Sea, focusing on the Neptun Deep concession. The company, in collaboration with state-owned Romgaz, has initiated the permitting process for a new exploration well named Cormoran West. This development marks a significant step in the project as it prepares for further exploration and potential gas production.
Applications for environmental clearance and water management approvals have been submitted to authorities for the planned Cormoran West well, which is projected to be drilled in 2027. This timeline coincides with the expected commencement of gas production from the Pelican South and Domino fields, signaling a pivotal moment for the Neptun Deep project.
The Cormoran West drilling site is located approximately 100 kilometers from the Anaconda prospect, another key exploration area within the same offshore block. The drilling of Cormoran West will follow the completion of operations at the Anaconda-1 well, contingent upon regulatory approvals and operational sequencing. This new well aims to assess potential reserves and may include testing activities based on geological findings.
Progress at the Anaconda prospect has been notable, with OMV Petrom recently securing environmental approval to commence drilling. Initial estimates suggest that this field could hold around 30 billion cubic meters of natural gas, highlighting its strategic importance within the overall development framework.
<pTo facilitate ongoing exploration efforts, the Romanian Government has extended the operational timeline for the Anaconda structure by two years, now set to conclude in December 2027. Concurrently, the budget allocated for this phase has been significantly increased from €20 million to €50 million, reflecting a commitment to advancing exploration activities.
The broader Neptun Deep project encompasses construction and installation works scheduled for completion by late 2026. Following this phase, testing and commissioning will occur prior to full-scale production. The development plan outlines ten wells across both Pelican South and Domino areas, alongside essential subsea infrastructure, an offshore platform, connecting pipelines, and an onshore gas processing facility located in Tuzla.
