Exploration & Production
We explore for and produce oil and gas, contributing to the energy supply of Romania and the region while addressing the energy needs of today and tomorrow.
We manage a portfolio of mostly mature fields, together with newly discovered resources, and continues to optimize operations and asset quality across our Exploration & Production activities.
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 production and recoverable reserves stood at 411 million boe.
Supported by Neptun Deep, we expect natural gas to account for more than 70% of our total hydrocarbon production by 2030. Natural gas can support energy-transition objectives, both by replacing higher-emission sources such as coal and by supporting the integration of renewable power.
The recently agreed principles for a 15-year extension of our production licenses offer us clarity and long-term visibility. By investing in oil and gas, we support Romania’s energy security and the growing demand, while advancing the implementation of our Strategy 2030.
Safety First
Safety is a core priority for OMV Petrom’s Exploration & Production activities. The company aims to maintain safe, reliable and efficient operations in line with its HSSE Strategy 2030 and “Committed to Zero Harm – Protect People, Environment and Assets” vision. Read our HSSE Policy to find our more.
Exploration for the Future
We continue our exploration activities, focusing on offshore opportunities and near-field developments that can help maintain long-term energy supply and extend the life of our existing assets. In 2025, we successfully tested two exploration wells, confirming one gas-condensate discovery and one oil discovery.
In December 2025, the Romanian Government approved the sixth exploration phase under the Petroleum Concession Agreement, allowing exploration activity to continue 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 billion in Romania’s onshore upstream oil and gas segment could generate an estimated EUR 5.8 billion impact in Romania’s GDP, EUR 3.1 billion in state budget revenues and approximately 43,500 jobs maintained and/or created.
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.