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Black Sea reserves make Romania a major player on the EU's natural gas market in the coming decades

>>> ExxonMobil confirms the huge Black Sea reservoir with an annual capacity of 6.3 billion cubic meters of gas

By Edwig Ban
ExxonMobil estimates that the gas reserves discovered in the Neptun Deep block of the Black Sea could reach 6.3 billion cubic meters per year, said Richard Tusker, lead country manager of ExxonMobil Romania, at a conference on energy.
That would mean more than half of the country's current production, which is around 11 billion cubic meters per year.
"These discoveries have the opportunity to increase Romania's economy by developing these projects, but also in the long run, given the potential incomes and other industries that can grow around these projects. Not only do they increase energy security but also bring the ability to improve infrastructure, "he said.
The American company official has stressed that the final investment decision has not yet been taken.
"But I will say what we are doing to make this decision. First of all, the Black Sea is a challenge, deep water, and then we need to understand how regulations will affect our investment. and thirdly, access to markets, we need to find markets where we can sell gas, so we need infrastructure in Romania as well as interconnections, and stable legislation is needed for them. what we look at when we look at the final investment decision, "continues Tusker.
He said he expects a production of 6.3 billion cubic meters of gas per year in the Neptun Deep perimeter. Americans explore this perimeter with OMV Petrom.
In February of this year, Sorin Gal, general manager of the National Agency for Mineral Resources (ANRM), announced that the Black Sea gas reserves amount to 200 billion cubic meters in perimeters where drillings were made, which would mean that the country's total output doubled for 20 years.
"When they work to the maximum, there will be 9-10 billion cubic meters of gas a year that will come from the Black Sea for 20 years, which will bring the Romanian state 2.8 billion euros in 20 years (...) There are about 200 billion cubic meters of reserves in the Black Sea only on what was dug, ie the perimeters owned by Lukoil, ExxonMobil and OMV Petrom, respectively Black Sea Oil and Gas, "the ANRM official said.
So, in 2025, Romania will produce about 20 billion cubic meters of gas if all Black Sea projects are developed. At present, about 11 billion cubic meters of gas are extracted in Romania, and national consumption is still around this value.
He has shown that ExxonMobil and OMV Petrom have so far invested around 2 billion dollars in the Neptune perimeter, Lukoil - over $ 500 million in the Trident perimeter, and Black Sea Oil and Gas - $ 200 million in the Midia and Pelican perimeters .

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