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February 8, 2023

OMV: Depending on price and taxes, Black Sea gas will be sold on the local market

The potential of the deposit discovered under the Black Sea represents the key to the economic growth of Romania, Europe and neighbour countries, the CEO of OMV, Gerhard Roiss said yesterday during the OMV European Media Summit, quoted by HotNews.ro. On the same occasion, Jaap Huijskes, member of OMV’s Executive Board in charge with Exploration and Production operations, affirmed that the Austrian company will sell the Black Sea on the Romanian market, if the price and the tax system will be advantageous. He added that eventual changes of the Romanian tax system will impact upon the company’s decisions to develop its Black Sea projects. Huijskes added that Romania could become a provider of natural gas for the Nabucco West pipeline, due to the hydrocarbon potential of the Black Sea, if the plans related to offshore finds and the construction of the gas pipeline will be completed. The strategy of OMV also refers to maintaining the production capacities in Romania and Austria at their current level, while the potential of finds in the Domino block of the Black Sea represents the highest gas extraction potential.OMV announced that, at the end of 2013, it will start a new exploration campaign in the Domino perimeter of the Black Sea. Moreover, OMV will launch exploring operations in the Khan Asparuh perimeter of Bulgaria and the Skifska block of Ukraine.

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