REG - OMV Petrom S.A. - Neptun Deep - FDP endorsement by NAMR

OMV Petrom SAAnnouncement

03/08/2023 13:45

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RNS Number : 2576I  OMV Petrom S.A.  03 August 2023

OMV Petrom S.A.

Ad hoc report

 

In compliance with Law no. 24/2017 on issuers of financial instruments and
market operations (republished) and Financial Supervisory Authority's
Regulation no. 5/2018 on issuers of financial instruments and market
operations

 

Date of report: 3 August 2023

Name of issuer: OMV Petrom S.A.

Headquarters: Bucharest, 22 Coralilor Street, District 1, ("Petrom City")

Telephone/fax number: +40 372 161930/ +40 372 868518

Sole registration number at the Trade Register Office: 1590082

Fiscal attribute: RO

Trade Register Number: J 40/8302/1997

Share capital: RON 6,231,166,705.80

Regulated market on which the issued securities are traded: Bucharest Stock
Exchange and London Stock Exchange

 

Significant event to be reported:

National Agency for Mineral Resources has endorsed the Development Plan for
the Domino and Pelican South commercial natural gas fields in the Neptun Deep
offshore block

 

OMV Petrom SA announces that the National Agency for Mineral Resources has
today endorsed the Development Plan for the Domino and Pelican South natural
gas commercial fields, as it was submitted by OMV Petrom, together with its
partner Romgaz (through its subsidiary Romgaz Black Sea Limited).

Consequently, the Neptun Deep project enters the development phase, which
includes the execution of drilling activities and construction of the
infrastructure necessary for the extraction of natural gas, with the first
production estimated for 2027.

OMV Petrom is the operator of the project, with a 50% participating interest.
The infrastructure required for the development of the Domino and Pelican
South offshore natural gas commercial fields includes ten wells, three subsea
production systems and associated flow lines, one offshore platform, the main
natural gas pipeline to a natural gas metering station near Tuzla. The
platform generates its own energy, operating at the highest standards of
safety and environmental protection. The offshore platform, wells and the
fields will be operated remotely, through a digital twin. This allows for
process optimization and will contribute to the improvement of our
environmental performance, by making energy consumption more efficient and
minimizing emissions.

About Neptun Deep

The Neptun Deep block in the Black Sea has an area of 7,500 square km and is
located about 160 km far from the shore, in water depths between 100 and 1,000
meters in the development area. Since 2008, the exploration activities in the
Neptun Deep block have included two 3D seismic acquisition campaigns and two
exploration drilling programs. The first natural gas discovery was made in
2012. The total exploration and appraisal expenses to date amount to more than
EUR 1.5 bn.

 

Christina
Verchere
    Cristian Hubati

Chief Executive Officer
 
    Member of the Executive Board

President of the Executive Board
                 Exploration and Production

 

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