Ukraine's Naftogaz in Talks with Romania's OMV Petrom on Black Sea Gas Field

Naftogaz and OMV Petrom in Negotiations

According to Главком: Ukraine's state energy company, Naftogaz, is in preliminary discussions with Romania's OMV Petrom regarding the joint development of a newly discovered natural gas field in the Black Sea. These talks are at an early stage, and any actual development work will not commence until after the war with Russia concludes. Prior to the full-scale invasion, Naftogaz had identified substantial offshore gas reserves in the area. Partial seismic surveys have already been conducted on the field, with both 3D and 2D data available for analysis.

Cooperation with Romania

Ukraine aims to pursue these negotiations on both a commercial and an intergovernmental level, seeking to attract Western deepwater extraction technology. This initiative aligns with broader European efforts to diversify energy sources away from Russia. Earlier this month, Ukrainian President Volodymyr Zelenskyy met with Romanian President Klaus Iohannis in Bucharest, where they announced a shared commitment.

"The two countries plan to jointly implement projects for resource extraction on the Black Sea shelf,"

stated Volodymyr Zelenskyy.

The Black Sea is bordered by Bulgaria, Romania, Georgia, Turkey, Ukraine, and Russia. OMV Petrom, which is majority-owned by Austria's OMV, is already active in regional exploration, including work on the Han Asparuh block off Bulgaria's coast. In Romania, OMV Petrom, in partnership with Romgaz, is developing the Neptun Deep gas field, with production scheduled to start in 2027. This project is expected to double Romania's gas output and transform the country into a net exporter.

The negotiations between Naftogaz and OMV Petrom represent a significant step for Ukraine's energy security amid the ongoing conflict. Successful cooperation could provide Ukraine with access to vital technology and investment for developing its offshore infrastructure. Given the geopolitical context, realizing these projects could be a crucial factor in enhancing energy independence for Ukraine and contributing to regional stability.