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OMV Petrom and Romgaz have made tremendous progress in building the Neptun Deep project. To carry out the Neptun Deep gas development project, which was recently approved by Romania's National Agency for Mineral Resources, OMV Petrom signed a contract for integrated drilling services with Halliburton Energy Services Romania and Newpark Drilling Fluids Eastern Europe worth approximately EUR 140 million (nearly $151.1 million).
"With the award of the drilling rig and integrated drilling services agreements, OMV Petrom has now secured more than 80% of the execution agreements required to deliver the Neptun Deep project," stated Christina Verchere, CEO of OMV Petrom. We are collaborating with well-known worldwide contractors and suppliers who have the necessary abilities and knowledge to complete this complicated project.
Halliburton Energy Services Romania will provide finish drilling services in collaboration with Newpark Drilling Fluids in Eastern Europe. In Romania, Halliburton's worldwide and local knowledge will be put to use in a variety of services such as cementing, directional drilling, and well completions. With all contracts, OMV Petrom and ROMGAZ are on schedule to deliver the first gas from Neptun Deep safely in 2027, and the project stays within the $4.31 billion overall investment projection.
In addition, the company has inked a contract with Transocean for the semi-submersible drilling rig Transocean Barents for a minimum of one and a half years for $350.45 million. In August of this year, the company signed an agreement with Saipem S.p.A. and Saipem Romania SRL for the management, engineering, procurement, fabrication, assembly, maritime transportation, installation, testing, and commissioning services for the offshore facilities of the Neptun Deep project worth approximately $1.73 billion. The contract also covers the testing and commissioning of the gas metering station as well as the near shore and onshore parts of the gas production pipeline.
