A view of the logo of Austrian energy company OMV at the headquarter in Vienna, Austria, February 4, 2025.
Drilling for the first of ten wells started in March 2025 and is expected to take two to three months, according to OMV’s statement. The Neptun Deep field holds an estimated 100 billion cubic meters of recoverable gas, positioning it as one of the European Union’s largest natural gas reserves. Once operational, the project is projected to produce approximately 8 billion cubic meters of gas annually.
The initiative will significantly enhance Romania’s energy profile, making it the EU’s top gas producer and a net gas exporter. “Drilling for the first of ten wells commenced in March and is anticipated to take two to three months,” OMV stated, highlighting progress in the project’s development.
On the same day, OMV reported its first-quarter financial results, noting that its adjusted operating result was €1.16 billion, slightly below analyst expectations by 5.7%. The shortfall was attributed to reduced contributions from its Fuels & Feedstock and Energy divisions. The clean operating result reflects the current cost of supply, excluding one-time items and short-term fluctuations in energy inventory values.
Earlier in April, OMV indicated lower sales volumes in its energy segment due to the divestment of SapuraOMV, increased liftings in Norway, and a catch-up effect in Libya. Despite these challenges, the Neptun Deep project remains a cornerstone of OMV’s strategy to expand its gas production capacity.
The Neptun Deep development is expected to strengthen energy security in the region by providing a substantial and sustainable gas supply. OMV and its partners are focused on delivering the project on schedule, leveraging advanced technology and expertise to unlock the field’s potential.
