Neptun Deep Production Unit Installed

OMV Petrom SA has completed the installation of the offshore production platform for Neptun Deep, a Black Sea project that the company says will position Romania as the European Union's biggest natural gas producer.

"The project is on schedule for the start of production in 2027 and will contribute to strengthening the energy security of Romania and the region", Austria's state-backed OMV AG, which owns 51.2 percent of OMV Petrom, said in a statement Monday.

The largest gas project and the first deep offshore development in Romania, Neptun Deep is expected to produce the equivalent of roughly 30 times the current annual demand of about 4.3 million households in the country, according to operator and 50 percent owner OMV Petrom.

Neptun Deep is estimated to hold around 100 billion cubic meters of recoverable gas. OMV Petrom and the other owner, Romania's majority state-owned SNGN ROMGAZ SA, expect to invest up to EUR 4 billion ($4.56 billion).

OMV, which expects a production share of 70,000 barrels of oil equivalent a day, said Monday the Neptun Alpha platform has now been installed in waters about 120 meters (393.7 feet) deep. The facility weighs 16,500 tons and stands 225 meters high, OMV said. Italy's Saipem SpA made both the jacket and topsides at its shipyards in Arbatax, Italy and Karimun, Indonesia.

"The installation of the platform was carried out using the Saipem 7000, the third-largest semi-submersible crane vessel in the world, which employs advanced offshore lifting and positioning technology", it noted.

Aristotel Jude, ROMGAZ deputy CEO, added, "The Neptun Deep project brings a historic first to the natural gas industry by mobilizing a global fleet of offshore construction vessels of an unprecedented magnitude for Romania and the European Union".

Cristian Hubati, OMV Petrom board member responsible for exploration and production, said, "The support structure was anchored to the seabed by driving eight piles, each with a diameter of over two meters. The platform topsides is fully automated and can be operated remotely".

Neptun Deep's 160-kilometer (99.42-mile) pipeline to Tuzla had earlier been installed, while the construction of the gas measurement station and the control building is progressing, OMV said. The development plan targets 10 wells at the Pelican South and Domino fields.

"Project development continues with the installation of interfield subsea pipelines and umblilicals to connect all the offshore elements, to be followed by rigorous testing to prepare for the start of production on plan for 2027", said OMV Petrom chief executive Christina Verchere.

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