OMV Petrom Sign Main Contract for Neptun Deep Infrastructure Development

Source: 8/3/2023, Location: Europe

Saipem will execute engineering, procurement, construction, installation and commissioning services (EPCIC)
Contract value estimated at ~ EUR 1.6 bn

OMV Petrom, the largest integrated energy company in Southeastern Europe, has signed with Saipem S.p.A. and Saipem Romania SRL (Saipem) a contract for engineering, procurement, construction, installation and commissioning services, in amount of approx. EUR 1.6 bn.

Christina Verchere, CEO OMV Petrom: „With the signing of this contract, we are taking a major step in the development of the Neptun Deep project – practically, this marks the beginning of the execution phase. We will continue to work at pace so that we safely produce the expected gas volumes starting in 2027”.

Alessandro Puliti, CEO Saipem : “We are proud to have been selected, after a competitive bid process, as suppliers for the EPCIC contract for the Neptun Deep development. This confirms the trust of our clients on our core competences and state-of-the-art fleet for safe, sustainable, and complex full field developments. We will use our local team, in the Technology Center near Ploiesti, for testing the materials to be used for the offshore facilities. This Center brings together 200 researchers and experts – 95% of them are Romanians”.

Neptun Deep is the largest natural gas project in the Romanian Black Sea. OMV Petrom and Romgaz will invest up to EUR 4 bn in the development phase of the project. Neptun Deep will generate a production of approximately 100 billion cm of natural gas, thus turning the country into the largest natural gas producer in the EU.

The necessary infrastructure for the development of the offshore gas fields Domino and Pelican Sud includes 10 wells, 6 in deep water (~1,000m) and 4 in shallow water (~100m), 3 subsea production systems and the associated flow lines, a shallow water offshore platform (~100 m deep), the main pipeline to the shore (~160km) and the gas metering station at Tuzla.

Within the contract framework, Saipem will provide management, engineering, procurement, fabrication, assembly, maritime transportation, installation, testing and commissioning for the offshore facilities of the project.

In addition, the contract includes the testing and commissioning of the gas metering station and of the near shore and onshore sections of the gas production pipeline, which will be built by other contractors.

The EPCIC contract was awarded based on a public procurement tender.

The costs arising from the contract will be equally shared between the two partners, OMV Petrom and Romgaz.

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