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Neptun Deep: Transocean Barents and Halliburton ensure works worth 465 mln. euro

13 December 2023
Uncategorized en

OMV Petrom, the largest integrated energy company in Southeast Europe, continued to make significant progress in the implementation of the Neptun Deep project. The company signed an agreement with an estimated value of 325 million euro for the Transocean Barents semi-submersible drilling platform for a minimum period of one and a half years. In addition, a contract of approximately 140 million euro was signed with Halliburton Romania for integrated drilling services. These are in addition to the previously announced 1.6 billion euro contract with Saipem for offshore installations, as well as other smaller contracts.

“With the awarding of the contracts for the drilling platform and for the integrated drilling services, OMV Petrom has secured over 80% of the execution agreements necessary for the delivery of the Neptun Deep project.

We work with reputable international contractors and suppliers who have the skills and experience to deliver this complex project. We also count on the experience of our local suppliers, who know the specifics of the Romanian environment, so that we can obtain the best possible results for the Neptun Deep project. Our most important goal is to start production safely and on budget in 2027 together with our partner Romgaz and support Romania in its transition to becoming the largest natural gas producer in the EU,” said Christina Verchere , CEO of OMV Petrom.

The agreement for the sixth-generation semi-submersible drilling platform includes crew and associated services, products, equipment and supplies. The Transocean Barents is a state-of-the-art drilling rig with a Class 3 dynamic positioning system, anchors and dual RAM rigs, meaning it can operate efficiently in both our shallow and deepwater locations. Mobilization for the Black Sea is scheduled to begin towards the end of 2024, and drilling activities are planned for 2025. In total, 10 samples will be drilled.

Halliburton Energy Services Romania and Newpark Drilling Fluids Eastern Europe provide integrated drilling services. Halliburton’s international and local experience in Romania will be used in a wide range of services, such as cementing, directional drilling and well rigging.

With these recent commitments, OMV Petrom and ROMGAZ are on track to safely deliver the first quantities of natural gas from Neptune Deep in 2027, within the budget of up to 4 billion euros estimated for total investments.

The infrastructure required to develop the two fields includes three subsea production systems, one for Pelican South and two for Domino, the associated gathering pipeline network, a shallow offshore natural gas platform, the main natural gas pipeline to shore at Tuzla and a natural gas measuring station. The offshore platform generates its own electricity, operating to the highest standards of safety and environmental protection. Wells and deposits will be operated remotely, by means of a digital replica (Digital Twin). A key aspect of the development concept is that the reservoir’s natural energy is used to transport natural gas to shore, eliminating the need to compress it. This, along with other project features, ensures that emissions from the Neptune Deep project are kept to a minimum, significantly below industry norms.

In August of this year, the company signed an agreement with Saipem S.p.A. and Saipem România SRL with a total estimated value of approximately 1.6 billion euros for management, design, procurement, manufacturing, assembly, maritime transport, installation, testing and commissioning services of marine facilities within the Neptun Deep project. In addition, the contract includes testing and commissioning for the natural gas metering station and for the onshore and onshore sections of the natural gas production pipeline.

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