Webinar – 5th Anniversary International Congress Romania & Black Sea Oil and Gas

Romania and the Black Sea remain one of the most promising regions in Europe for the development of the oil and gas industry. New fields, modernisation of processing facilities and strategic location make this region a key hub for the energy security of the entire Black Sea basin. How do the largest players develop their projects? What opportunities are opening up for suppliers, investors, and technology partners?

Relevance

Romania is the largest producer of natural gas in the entire European Union. Currently, it produces from 21 to 23 million cubic meters of gas per day, and gas storage facilities with a volume of 3 billion cubic meters are filled by about 68%.
The focus is on more than 23 investment projects for the exploration, production and processing of oil and gas in Romania and the Black Sea shelf.
Romania’s oil and gas market is estimated at $2.41 billion in 2025, with a forecast to grow to $2.52 billion in 2026 and reach $3.11 billion by 2031, with an average annual growth rate (CAGR) of 4.36% in the period 2026-2031.
The Neptun Deep, the largest gas project in Europe, will be launched in 2027: the field has reserves of 100 billion cubic meters of gas, peak production is 8 billion cubic meters per year, and investments amount to €4 billion.
Transgaz has invested more than €3 billion in the development of the gas transportation system over the past 7-8 years, which has significantly increased the reliability of gas supplies for Romania, Central and Eastern Europe and the Balkan region.

Development prospects

The oil and gas market in Romania is projected to reach $22.20 billion by 2034.
By 2030, Romania plans to increase the share of natural gas in the energy mix to 30%, replacing coal-fired generation.
The launch of the Neptun Deep project in 2027 with peak production of 8 billion cubic meters of gas per year creates the potential to transform Romania from a net importer into a net exporter of gas.
Offshore areas show the fastest growth — 2% CAGR — due to deepwater blocks. The market share may shift towards offshore by 2030, after Neptun Deep reaches a production plateau.
The role of Romania’s midstream infrastructure is growing: gas transmission networks, underground storage facilities, metering systems, compressor stations and interconnectors are key investment areas.

Programmes of key market players

OMV Petrom is a leading operator that controls about 60% of the upstream segment jointly with Romgaz. The company introduces predictive maintenance systems, which allows to increase the uptime of the equipment by 15-20%. OMV Petrom is also actively involved in the development of Neptun Deep (together with Romgaz) and is expanding its portfolio of export contracts.
Romgaz is the second largest gas producer in Romania. The company is developing the largest onshore Caragele field (Rosetti well 76 — a record 5,256 m), which will provide about 4% of national production by the winter of 2026-2027.
Transgaz is the operator of the gas transportation system. The plans for 2026 include the modernisation of 5 gas metering stations (Negru Vodă 2, Negru Vodă 3, Isaccea 2 and Isaccea 3).
Black Sea Oil & Gas (BSOG)— the operator of the Midia Gas Development project, which already provides 10-12% of gas demand The company continues to develop offshore blocks by opening tenders for contractors and equipment suppliers.

AS PART OF THE WEBINAR, YOU WILL LEARN:

What investment projects for the extraction and processing of oil and gas are being developed in Romania and the Black Sea region and how to participate in them

Who shapes the future of the Romanian oil and gas industry: cases and experience of industry leaders.

What are the challenges, trends and opportunities in the development of the sector: regulation, logistics, prices, decarbonization and new technologies