The Transocean Barents semi-submersible rig is making its way to the Neptun Deep field in the Romanian Black Sea, where it will drill 10 production wells under a 540-day contract with OMV Petrom. The rig arrived in Constanța in November 2024 to undergo final preparations and is expected to start drilling in April 2025. This marks a key milestone in Romania’s largest offshore natural gas development.
The Neptun Deep project, operated by OMV Petrom and Romgaz, represents a €4 billion investment, with an estimated total production of 100 billion cubic meters of natural gas. The final investment decision (FID) was made in June 2023, and the project remains on schedule to deliver first gas by 2027. The drilling campaign will be crucial in unlocking Romania’s offshore gas potential, ensuring long-term energy security.
Significant progress has already been made, with 90% of the project’s budget committed. The construction of the production platform is advancing at Saipem’s sites in Indonesia and Italy, following a €1.6 billion contract for offshore facilities. Additionally, OMV Petrom has secured agreements with Halliburton for integrated drilling services and Corinth Pipeworks for pipeline manufacturing and supply.
With the Transocean Barents now mobilized and key contracts in place, the Neptun Deep project is on track to become a major natural gas hub in the Black Sea. The drilling campaign will play a vital role in delivering much-needed domestic energy resources, reinforcing Romania’s position as a key energy player in Southeastern Europe.
