Austrian oil and gas group OMV is again postponing an investment decision on its Black Sea exploration project and is now aiming for a decision next year at the earliest, its chief executive said on March 13.
The exploration of the Black Sea Neptun block is a joint venture between OMV’s Romanian subsidiary Petrom and U.S. major Exxon Mobil Corp., and includes the first deepwater exploration well in Romanian waters.
Exxon Mobil is considering exiting the project and OMV has signaled an interest in buying at least part of the Exxon stake.
Recommended Reading
Exxon Enlists Baker Hughes to Support Uaru, Whiptail Offshore Guyana
2025-02-03 - Baker Hughes’ will provide specialty chemicals and related services in support of the Uaru and Whiptail projects in the Stabroek Block.
Tamboran, Falcon JV Plan Beetaloo Development Area of Up to 4.5MM Acres
2025-01-24 - A joint venture in the Beetalo Basin between Tamboran Resources Corp. and Falcon Oil & Gas could expand a strategic development spanning 4.52 million acres, Falcon said.
New Fortress Signs 20-Year Supply Deal for Puerto Rican Power Plant
2025-01-23 - The power plant, expected to come online in 2028, will be the first built in Puerto Rico since 1995, New Fortress said.
Shell Takes FID on Gato do Mato Project Offshore Brazil
2025-03-23 - Shell Plc will be the operator and 50% owner, with Ecopetrol holding 30% interest and TotalEnergies 20%.
BP Earns Approval to Redevelop Oil Fields in Northern Iraq
2025-03-27 - The agreement with Iraq’s government is for an initial phase that includes oil and gas production of more than 3 Bboe, BP stated.