Romgaz remains committed to invest in Black Sea XIX Neptun Deep Block (”Neptun Deep”) by extending the current exploration phase within the block.
As of December 9, 2025, Romanian Government approved Addendum no. 7 to the Concession Agreement for XIX Neptun Block, making proof of the support for investment projects in Romania, ensuring the energy security and creating a healthy investment environment for the benefit of the economy and the consumers.
Neptun Deep Block is a key investment area for Romgaz as co-owner (through Romgaz Black Sea Limited) with 50% ownership, OMW Petrom S.A owning the other 50%, and acting as operator.
Exploration operations will be conducted simultaneously with the development works of Domino and Pelican South, to identify and assess the energy resources of the Black Sea.
Exploration remains one of Romgaz’s core activities, enabling the company to identify and assess the energy potential within the concessioned blocks. This focus on exploration represents a strategic pillar of Romgaz’s long-term development, supporting growth across both offshore and onshore segments.
“Neptun Deep Block in the Black Sea represents a strategic investment area for our company, and we are fully committed to advancing both the development and exploration projects. These projects hold significant importance for the Group’s investment portfolio. The exploration activity in Neptun Deep will shape Romgaz Group long-term evolution, reinforce its investment potential, and further consolidate the Group’s position on Romanian and regional energy markets,” said Răzvan Popescu, CEO of Romgaz.
