OMV Petrom calls for Romanian fiscal stability
New deepwater gas play needs greater clarity on terms
OMV Petrom, the Romanian independent 51pc owned by Austria's OMV, believes Romania could develop into Europe's third-largest gas producer and a significant exporter into central and eastern Europe (CEE) and beyond. But board member Franck Neel cautions that a stable fiscal regime is key to making progress on developing the Neptun Deep discovery in the country's deepwater offshore, in which OMV is an equal partner with operator ExxonMobil. "For such a big investment, you need to know what the tax level is," he told Petroleum Economist at the Flame gas conference in Amsterdam in May. The recent signs have not been particularly promising. The country had been making progress towards a more libe
Also in this section
18 November 2024
The company is on track to boost import terminal capacity by 40% in three years, CEO Akshay Kumar Singh tells Petroleum Economist
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results
