Prime Minister Marcel Ciolacu welcomes the entry into the development phase of the largest natural gas project in the Romanian area of the Black Sea

Prime Minister Marcel Ciolacu welcomes, in a post on Facebook, the entry into the development phase of the largest natural gas project in the Romanian area of the Black Sea, Neptun Deep.

The development plan for the Domino and Pelican Sud deposits in the Neptun Deep perimeter was confirmed by the National Agency for Mineral Resources.

OMV Petrom and Romgaz will invest up to four billion euros in this development stage of the project, which will generate a production of about 100 billion cubic meters of natural gas.

According to the prime minister, the first quantities of gas from this perimeter would be extracted in 2027.

It is estimated that this strategic project will contribute to the country's energy security, Romania thus becoming the largest producer of natural gas in the European Union.

Translated by: Radu Matei