OMV Petrom

Energy companies OMV Petrom and Romgaz on Wednesday backed plans to develop the Domino and Pelican Sud commercial natural gas fields in the Romanian Neptun Deep perimeter in the Black Sea.

The two companies will invest up to 4 billion euros for the development phase of the project, which will generate production of about 100 billion cubic meters of natural gas over ten years.

Bucharest, Aug 27 /Agerpres/ - The Bucharest Stock Exchange closed upwards the last trading session of the week, with a value of transactions of 49.08 million lei (9.95 million euros). The main BET index appreciated by 0.59%, to 12,389.58 points, and BET-Plus, which shows the evolution of the most liquid 37 shares, recorded a similar increase.

OMV Petrom has ended its first semeter of this year with a net profit of 980 million RON, rising by 13% in comparison with the similar period of last year, according to the data sent on Wednesday by the Bucharest Stock Exchange (BVB).

Romanian gas producer Romgaz has the capacity to support investment in the Neptun Deep deep-water offshore gas field development project in the Black Sea and should be the operator of this project, Chairman of the Romanian National Committee of the World Energy Council Iulian Iancu told a news briefing on Tuesday.

Romania has the opportunity to become the largest gas producer in Europe, especially through the advantages offered by the resources of the Black Sea, Franck Neel, member on the OMV Petrom Board told on Thursday a specialized debate. "OMV Petrom is based in Eastern Europe, where we want to develop the company, in terms of energy transition.

Energy Minister Virgil Popescu met on Wednesday with the representatives of the US company ExxonMobil, and one of the topics of discussion was the collaboration with Romgaz in the field of carbon storage, according to a post on the minister's Facebook page.

Romgaz is ready to take over ExxonMobil's share in the Neptun Deep Black Sea offshore natural gas project, and funding that will be a mix of equity and raised money, Romgaz Director General Aristotle Jude told a news conference on Tuesday. "On March 31, we submitted an offer to take over ExxonMobil's share in the Neptun Deep block.

 Romania's interest is for investment in the Neptune Deep field in the Black Sea to start in 2022, otherwise the natural gas there will lose its value, said on Thursday Director of the National Mineral Resources Agency (ANRM) Sorin Gal.

The first Romanian gas molecule in the Black Sea will be drilled this year by the Black Sea Oil&Gas company from the Aurora perimeter, and from the Neptune Deep area it will probably happen in 2025, Energy Minister Virgil Popescu said on Monday evening on private B1 TV broadcaster.

Developing local investor community so as to have a much higher participation of the Romanian population in the capital market is the top priority for the Bucharest Stock Exchange (BVB), CEO Adrian Tanase affirmed. "It is very important to have a dialogue with companies and familiarize them with the mechanisms of the capital market so that entrepreneurs fully understand its advantages.