OMV Petrom has invested €5.4 billion since launching its 2030 Strategy in December 2021, as part of a total investment plan of €11 billion for the 2022–2030 period. The company is currently developing projects in natural gas production, renewable energy, sustainable fuels, green hydrogen and electric mobility.
One of the company’s largest ongoing projects is Neptun Deep, the offshore natural gas development in the Black Sea, operated jointly by OMV Petrom and Romgaz. The project is moving forward, with first gas production expected in the first half of 2027. Production is planned to reach its plateau by the end of the third quarter of 2027.
Neptun Deep is expected to produce around 8 billion cubic metres of natural gas per year at plateau production. The project is considered a key part of OMV Petrom’s plans to increase its gas production in the coming years.
Renewable energy and storage
OMV Petrom is also expanding into renewable electricity. Its portfolio includes solar and wind projects in Romania and neighbouring countries, with more than 2.5 GW of renewable capacity targeted by 2030.
The company is also developing energy-storage projects, while continuing to expand its electric vehicle charging infrastructure. These investments are part of its broader plan to diversify its energy business beyond oil and natural gas.
New fuels at the Petrobrazi refinery
Another major investment is taking place at the Petrobrazi refinery, where OMV Petrom is building a facility designed to produce sustainable aviation fuel (SAF) and hydrotreated vegetable oil (HVO).
The facility is planned to have an annual production capacity of 250,000 tonnes and is expected to become operational in 2028. The project is intended to support the company’s expansion into lower-carbon fuels.
OMV Petrom is also developing green hydrogen production at Petrobrazi. Two electrolyzers will have a combined capacity of 55 MW, with the company planning to use the hydrogen in its sustainable-fuel production processes.
Investments continue through 2030
The company plans to continue investing in natural gas production, renewable energy, sustainable fuels, hydrogen and electric mobility until the end of the decade. Additional projects in biofuels and green hydrogen are also being evaluated.
For 2026, OMV Petrom has allocated an investment budget of approximately RON 9 billion, with around 60% directed towards its Exploration and Production business, where Neptun Deep represents the main project.
The company’s investment programme shows a strategy built around both its traditional oil and gas operations and the development of new energy businesses. The coming years will therefore bring major projects in the Black Sea, renewable power generation and sustainable fuels.
