Mihai Melintei, Energy Analytical Studies

 

In the current geopolitical and economic context, marked by regional instability, rising energy prices and the need to synchronize the energy transition with classic resources, Romania’s energy security is becoming a top strategic objective. Thus, the Caragele Deep project (see here Project sheet prepared by Energy Analytical Studies), developed by the national company Romgaz, represents one of the most important initiatives in the onshore natural gas field, with major potential to consolidate the country’s energy independence. With reserves estimated at over 30 billion m³, Caragele Deep can influence the country’s energy equation and facilitate the transition to a cleaner energy mix.

The proposed analysis further aims to substantiate the need to introduce the Caragele Deep field into the category of projects of national importance for Romania’s energy sector.

 

Substantiation of the need to include Caragele Deep as a project of national importance

The current geopolitical, economic and energy context puts pressure on European countries to secure their domestic energy sources. The need to declare the Caragele Deep project as a project of national importance, in order to grant it strategic priority, institutional support and an accelerated approval regime, in accordance with the national legislation in force and the priorities of the national energy strategy – is determined by a series of objective factors, which outline the unique opportunity to capitalize on an important deposit for the national benefit. The key arguments for substantiating the project can be summarized as follows:

• Strengthening energy security– Romania has significant potential in the natural gas sector, but in recent decades domestic production has been declining, and imports, especially from vulnerable external sources, have increased. In the current geopolitical context, marked by regional instability and volatility in international markets, the Caragele Deep project becomes essential for reducing energy dependence and strengthening the resilience of the national gas supply system. The exploitation of the field can ensure a stable and predictable source of natural gas for at least 10 years. The project also increases Romania’s capacity to manage its internal resources in the context of external crises and geopolitical imbalances.
• Alignment with European and national energy transition objectives – Natural gas is recognized at European level as a transition source, with lower carbon emissions than other fossil sources. Romania needs this resource to be able to gradually eliminate the use of coal, while maintaining the stability of the energy system. The Caragele Deep project thus fits into a realistic and responsible decarbonization strategy, offering a viable technical solution in the medium term. Gas from Caragele Deep can support the gradual withdrawal of coal-fired capacities and catalyze the development of efficient cogeneration and transport and storage infrastructure.
• Contribution to regional stability and geopolitical role – Romania has the potential to become a pillar of energy security in the South-Eastern European region through the development of energy projects. The exploration and exploitation of the Caragele Deep field can strengthen Romania’s position as a reliable regional energy supplier and partner, especially for the Republic of Moldova. Thus, the project goes beyond the borders of national interest and acquires a regional strategic dimension. Caragele Deep also increases Romania’s strategic influence within regional energy initiatives such as BRUA, CESEC and RePowerEU.
• Synergy with other national projects – Caragele Deep is complementary to other strategic initiatives, such as Neptun Deep, BRUA, the Vertical Gas Corridor and the increase in storage capacities. The integration of this project into a coherent strategic framework will strengthen the security and flexibility of Romania’s energy system.
• Economic contributions– The exploitation of onshore natural gas from the Caragele Deep perimeter can bring multiple economic benefits to Romania, from increasing state budget revenues and creating jobs, to improving infrastructure and strengthening national energy security. At the same time, the development of Caragele Deep can stimulate innovation and diversification of the economy, having a positive impact on the entire national economy in the long term. At the same time, the introduction of the Caragele Deep project as of national importance can accelerate the development of Buzău County and neighboring regions by attracting capital, technical know-how and qualified labor, thus contributing to reducing regional disparities.
• The opportunity of the moment – The current European economic and political context encourages investments in energy infrastructure and diversification of sources. The European Union provides support for projects that contribute to security of supply and reduce dependence on imports. Romania has, through the Caragele Deep field, the opportunity to benefit from this strategic window and to capitalize on its competitive advantages at a favorable time.

Finally, we can note that the Caragele Deep project meets all the criteria to be declared a project of national importance: it has a significant strategic, economic and social impact; it contributes to achieving national and European objectives; it responds to urgent needs regarding energy security and is synchronized with the current geopolitical and economic context. Therefore, its inclusion in the list of projects of national importance is not only justified, but also essential for the sustainable development of Romania.

The Caragele Deep project offers Romania a unique strategic opportunity to capitalize on significant domestic energy resources, simultaneously contributing to strengthening national energy security, regional economic development, attracting investment and advanced technologies, as well as facilitating a balanced energy transition by gradually replacing polluting sources, in line with European decarbonization and energy independence objectives.

 

Regulatory framework

From a legislative point of view, the Caragele Deep project falls within the Law No. 185/2016 on some measures necessary for the implementation of projects of national importance in the field of natural gas. This law is complementary to the Law on Electricity and Natural Gas No. 123/2012, Law 185/2016 aims to facilitate and accelerate the implementation of projects considered of national importance in the natural gas sector.

Essentially, the law aims to:

• Establishing the necessary measures for the rapid implementation of projects of national importance;
• Facilitating project authorization and licensing;
• Ensuring an adequate legal framework for investments in natural gas infrastructure;
• Regulation of the concession of public property related to natural gas objectives.

Also, the inclusion of the Caragele Deep Project in the category of projects of national importance is based on the following relevant legal provisions from national legislation and the community acquis applicable to the field of energy and strategic investments:

• Law No. 123/2012 on electricity and natural gas, republished, with subsequent amendments and supplements, which stipulates the obligation of the authorities to promote the development of production capacities and the valorization of national energy resources;
• Romania’s Energy Strategy (2025–2035) and Integrated National Plan for Energy and Climate Change (NEPC). These strategic documents provide for the development of new natural gas production capacities from domestic resources as a priority measure for the energy transition and increasing Romania’s energy independence;
• European Union regulations and directives on energy and energy security, in particular Regulation (EU) 2017/1938 on measures to guarantee the security of natural gas supply.

Thus, from a legal perspective, not only are there the necessary premises for the integration of the Caragele Deep project into the category of projects of national importance, but also a strategic obligation to use existing legislative instruments to robustly capitalize on this major energy opportunity, for the benefit of Romania’s security, resilience and sustainable development.

 

Risks for Romgaz and related management

Although the inclusion of the Caragele Deep project in the category of projects of national importance brings numerous strategic and operational advantages, this decision inevitably involves a series of significant risks for Romgaz and for the actors involved. These risks relate to technical, financial, regulatory, environmental and social factors, which must be carefully analyzed, evaluated and managed to ensure the success of the project and maintain public trust. Below, we highlight the main risks associated with the inclusion of the Caragele Deep project as a project of national importance, together with the corresponding management measures, as follows:

• Technical and operational risks – Deep onshore drilling involves major technical challenges, such as uncertainties regarding the geological structure, risks of well collapse, fluid losses or the impossibility of reaching target depths. In addition, delays or non-conformities related to drilling equipment and logistics may occur.

As a management strategy to mitigate technical risks, it is recommended to establish an emergency management and business continuity plan.

• Financial and economic risks – The costs associated with a deepwater drilling project are significant, with the possibility of budget overruns, especially during the exploration and infrastructure development phases. Fluctuations in natural gas prices on international markets can also affect the economic viability of the project.

It is recommended to carefully monitor and adjust the investment plan according to market scenarios.

• Regulatory and political risks – Changes in tax legislation, royalty regime, environmental policies or political instability may affect the schedule, costs or even the continuity of the Caragele Deep project.

To manage these risks, it is recommended to strengthen an active institutional dialogue with the relevant authorities (ANRM, Ministry of Energy, Government). Another important action is to promote the inclusion of the project in national strategic documents (e.g. NEPC).

• Environmental and social risks– Environmental organizations, local communities, and the media may challenge the project due to concerns about the impact on soil, water, biodiversity, or public health. Lack of social acceptance may lead to protests, lawsuits, or delays in obtaining permits.

In this direction, the following management strategies are recommended:

• Conducting independent and transparent environmental impact assessments, with community involvement;
• Implementing a community relations plan and a pro-active public communication strategy;
• Initiating social responsibility projects in Buzău County (education, infrastructure, health).
• Cooperation with specialized NGOs to identify and prevent negative effects on the environment.

 

Conclusion

The Caragele Deep project meets all the essential criteria to be classified as a project of national importance. Its strategic, economic and energy value is undeniable in the current regional context. In addition, the opportunities outweigh the risks, and the existing legal framework unequivocally supports its inclusion in the category of priority projects of Romania. In this regard, a rapid decision of institutional and governmental support is not only justifiable, but urgently needed.

The risks associated with the Caragele Deep project are inherent to any strategic energy infrastructure project, but they can be effectively anticipated and managed through a professional, multi-sectoral and transparent management framework. The status of a project of national importance not only provides a favorable legislative framework, but also creates the premises for integrated risk governance and the development of the project in the right direction for the Romanian energy sector.

 

About Caragele Deep

The Caragele field, operated by Romgaz in Buzău and Brăila counties, is one of the most promising onshore perimeters in Romania. Located in the RG06 Muntenia Nord-Est perimeter, Caragele is already in production, but continues to reveal significant potential in the deepwater area. Romgaz started drilling the 54 Damianca well in June 2025, with a projected depth of 5,100 meters, as part of an extensive geological exploration program. The objective is to evaluate existing accumulations and identify new resources at depths of over 4,000 meters. With reserves estimated at over 30 billion cubic meters of natural gas, Caragele Deep is included in a strategic portfolio aimed at expanding domestic gas production and strengthening Romania’s energy security.