Exploration & Production
We continuously invest and work to discover new fields and to produce oil and gas, ensuring reliable energy for today and for the future.
We carry on Romania’s over 160-year tradition in oil production and refining by responsibly managing oil and gas fields.
Our production portfolio includes a range of fields - mostly mature - that have been in operation for decades, as well as newly discovered ones. We aim to regionally expand this portfolio, while continuously optimizing our operational footprint and enhancing the quality of our assets.
Key Figures (2025)
proved reserves
production
production cost
Oil and Gas Production
In 2025, our total hydrocarbon production amounted to 38 million boe, with natural gas accounting for 54% of the output. Recoverable reserves stand at 411 million boe.
Thanks to the Neptun Deep contribution, by 2030 we expect to reach above 70% share of gas in our total hydrocarbon production. The increase in equity gas will also support Romania’s decarbonization efforts. This is due to the fact that natural gas can play a major role in the energy transition, replacing higher-emission energy sources such as coal, while also facilitating the integration of renewable capacities.
The recently agreed principles for a 15-year extension of production licenses offer us clarity and long-term visibility.
By investing in oil and gas, we support Romania’s energy security and growing demand, while enabling the transition to lower-carbon energy.
Safety First
The safety of our employees and partners is our foremost sustainability priority, in line with our HSSE Strategy 2030 and “Committed to Zero Harm – Protect People, Environment and Assets” vision. We are committed to maintaining safe, reliable and efficient operations, which underpin all our activities – from field development to daily production activities. Our safety culture is embedded across all levels of the organization, ensuring the protection of our people, communities and the environment.
Exploration for the Future
To secure long-term energy supply, we continue to invest in exploration efforts, focusing on both offshore opportunities and near-field developments. These initiatives aim to unlock new reserves and extend the life of existing assets, supporting Romania’s energy independence and our strategic shift toward low-carbon energy.
In 2025, we have successfully tested two exploration wells, confirming one gas-condensate and one oil discoveries.
In December 2025, the Romanian Government approved the sixth exploration phase under the Petroleum Concession Agreement, allowing us to continue exploration in seven onshore blocks, as agreed with NRAMPGS. The Government also approved a two-year extension of the exploration phase for the Neptun Block.
Portfolio & Locations
Our portfolio of licenses covers more than 36,000 km²* in Romania and Bulgaria. We explore for new oil and natural gas resources and turn discoveries into the energy that powers life and drives the economy - today and tomorrow.
*not including the Han Tervel offshore exploration block
Romania
In Romania, we operate 146 commercial oil and gas fields, most of them onshore. Our offshore portfolio in Romania includes operations in the Istria block and the development of Domino and Pelican South offshore gas fields through the Neptun Deep project.
Our production infrastructure includes thousands of wells, kilometres of pipelines and hundreds of oil and gas facilities: oil & gas processing plants, tank farms, gathering & compressors stations located in our assets.
According to a study requested by Federația Patronală a Energiei (“FPE”) and conducted by Deloitte Romania, an investment of EUR 1 bn in the onshore upstream segment of the oil and gas industry in Romania would generate an impact of EUR 5.8 bn in Romania's GDP, a growth of EUR 3.1 bn in state budget revenues and ~43,500 jobs maintainted and/or created in Romania. Find out more here.
Bulgaria
OMV Petrom is the operator in the Han-Asparuh exploration block, under a partnership structure alongside NewMed Energy and Bulgarian Energy Holding (BEH). Han-Asparuh, located in the western Black Sea, south of Romania's Neptun Deep block, covers 13,712 km², with water depths of over 2,000 meters. Exploration activities began in 2012 and included seismic surveys, as well as an exploration campaign with 2 wells, between December 2025 - March 2026.
Additionally, in March 2026, we announced our entry into the exploration consortium for the Han Tervel offshore block, with a 25% participation in the project, subject to regulatory approval. The Han Tervel block covers approximately 4,000 km2 and is located south of Han Asparuh block.