Expro (NYSE: XPRO), a leading global provider of energy services, has secured significant contracts worth over $10 million from OMV Petrom for the Neptun Deep gas project in the Black Sea. These awards mark a critical milestone in Expro’s expansion in Eastern Europe, reinforcing its commitment to supporting the region’s energy industry with advanced technologies and expertise.
The Neptun Deep project represents Romania’s most extensive natural gas development, playing a pivotal role in strengthening the country’s energy security. As part of these contracts, Expro will deliver its cutting-edge subsea landing string (SSLS) systems, SeaCure® cementing technology, tubular running services (TRS), and Coretrax Advanced drilling tools. These solutions are expected to enhance efficiency and safety in the offshore drilling process, contributing to the successful execution of this landmark project.
Strategic Expansion in Romania
Expro’s latest contracts align with its broader strategy of regional growth and operational excellence. Over the past year, the company has significantly expanded its footprint in Romania, including the establishment of a new operational base and an office in Bucharest. Additionally, Expro has launched an initiative to increase its Romanian workforce, further strengthening its local presence and expertise.
“With these contracts, Expro is not only reinforcing its position as a key partner in Romania’s energy sector but also demonstrating our commitment to supporting the evolving needs of the industry,” said Andrei Ion, Expro’s Senior Area Manager for Europe, the Mediterranean, and the Caspian. “Neptun Deep is a transformational project for Romania’s energy future, and we are honored to contribute our technology and expertise to its success.”
The Importance of Neptun Deep
Neptun Deep, situated in the Romanian sector of the Black Sea, is the country’s largest offshore natural gas project. A joint venture between OMV Petrom and ROMGAZ, the project is expected to significantly boost Romania’s natural gas output, reducing its dependence on energy imports and enhancing regional energy stability. The field holds an estimated 100 billion cubic meters of recoverable natural gas reserves, making it a strategic asset for the nation’s economic and energy future.
OMV Petrom, the primary operator, and ROMGAZ, Romania’s largest natural gas producer, are collaborating to develop Neptun Deep with an investment of approximately $4 billion. The project will involve drilling multiple wells, constructing offshore platforms, and installing a subsea pipeline to transport gas to Romania’s national grid.
Expro’s Role in the Project
Expro’s involvement in Neptun Deep underscores its capability to provide innovative and efficient solutions for complex offshore projects. The awarded contracts include:
- Subsea Landing String Systems (SSLS): Ensuring safe and efficient well access for completion and intervention activities.
- SeaCure® Cementing Technology: Enhancing well integrity by providing precise, efficient cementing solutions.
- Tubular Running Services (TRS): Facilitating the installation and management of tubular systems to optimize drilling operations.
- Coretrax Advanced Drilling Tools: Delivering specialized solutions to enhance well performance and longevity.
These technologies will play a crucial role in optimizing Neptun Deep’s operational efficiency, ensuring the project meets its ambitious production targets.
Commitment to Sustainability and Innovation
As the energy industry evolves, Expro continues to invest in sustainable technologies and practices that support decarbonization and energy transition initiatives. The company’s involvement in Neptun Deep aligns with its broader mission to enhance energy security while reducing environmental impact through innovative solutions.
“Expro’s role in this project reflects our dedication to delivering reliable, efficient, and sustainable energy solutions,” said Ion. “Our team is committed to upholding the highest standards of safety, quality, and environmental responsibility as we contribute to Romania’s energy future.”
The Future of Romania’s Energy Sector
The development of Neptun Deep marks a turning point for Romania’s energy landscape. As the country strives to strengthen its energy independence, investments in offshore gas exploration and production are crucial. The success of Neptun Deep could pave the way for further offshore developments, reinforcing Romania’s position as a key player in the European energy market.
For Expro, these contracts signify not only immediate business growth but also long-term collaboration opportunities with industry leaders like OMV Petrom and ROMGAZ. By delivering best-in-class solutions and expertise, Expro is well-positioned to play a significant role in future offshore energy projects in the region.
About Expro
Expro is a globally recognized provider of energy services, offering innovative and cost-effective solutions across the well lifecycle. With a presence in over 60 countries and a workforce exceeding 8,000 employees, the company specializes in well construction, well flow management, subsea well access, and well intervention and integrity solutions.
Since its founding in 1938, Expro has built a reputation for delivering industry-leading technologies and services that enhance operational efficiency and safety. The company remains at the forefront of energy innovation, supporting clients across both onshore and offshore environments.
For more information about Expro, visit www.expro.com and follow the company on LinkedIn and X (formerly Twitter) @ExproGroup.
About OMV Petrom
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with a diverse portfolio spanning oil and gas exploration, refining, and power generation. In 2024, the company achieved an annual hydrocarbon production of approximately 40 million barrels of oil equivalent (boe). Its refining capacity stands at 4.5 million tons annually, and it operates a high-efficiency, 860 MW gas-fired power plant.
With a strong commitment to innovation and sustainability, OMV Petrom continues to invest in modernizing its operations and expanding its energy offerings. The company operates approximately 780 filling stations under the OMV and Petrom brands across Romania and neighboring countries.
For more details about Neptun Deep, visit OMV Petrom’s official website.
About ROMGAZ
ROMGAZ is Romania’s largest natural gas producer and a key supplier to the national energy market. With extensive experience in gas exploration and production, the company has played a critical role in shaping Romania’s energy sector. In 2013, ROMGAZ expanded its operations into electricity production by acquiring the Iernut thermoelectric power plant.
In 2022, ROMGAZ became the sole shareholder of ROMGAZ BLACK SEA LIMITED (formerly ExxonMobil Exploration and Production Romania Limited), acquiring a 50% stake in the Neptun Deep offshore block. This acquisition has strengthened ROMGAZ’s offshore exploration and production capabilities, positioning it as a major player in Romania’s energy transition.
As Neptun Deep moves into its development phase, ROMGAZ remains committed to leveraging its expertise to maximize the project’s potential and support Romania’s long-term energy security.
For more information about ROMGAZ, visit www.romgaz.ro.
Expro’s latest contracts for the Neptun Deep project mark a significant step in the company’s strategic expansion in Eastern Europe. By providing cutting-edge technologies and expertise, Expro is set to play a crucial role in the success of Romania’s largest offshore gas development. As the project progresses, the collaboration between Expro, OMV Petrom, and ROMGAZ will be instrumental in shaping Romania’s energy future, driving economic growth, and enhancing regional energy security.