Ukraine’s state energy company Naftogaz is in early-stage discussions with Romania’s OMV Petrom about jointly developing a potentially significant offshore gas discovery in the Black Sea, a project that could eventually strengthen Europe’s efforts to replace Russian gas supplies.
According to a Reuters report, three industry sources said the talks relate to a field discovered by Naftogaz before Russia’s invasion of Ukraine. One source described the discovery as “one of the most promising gas fields in the Black Sea region,” although estimates of recoverable reserves have not yet been disclosed.
The discussions remain preliminary and any development timeline is tied directly to the outcome of the war. Sources told Reuters that large-scale development of the offshore discovery would likely only begin after hostilities end, given the security risks and infrastructure damage affecting Ukraine’s energy sector.
The potential project comes as Kyiv and Bucharest deepen their broader strategic partnership across energy, infrastructure, and defense. During a March 12 meeting in Bucharest, Ukrainian President Volodymyr Zelenskyy and Romanian President Nicu?or Dan signed a strategic partnership declaration that includes expanded energy cooperation and cross-border infrastructure development.
Romania has already become one of Ukraine’s key energy partners during the war, supporting electricity exports, providing spare equipment for grid repairs, and helping maintain stability in the regional power system. Plans under discussion include expanded electricity interconnections and the development of new gas transport routes linking southeastern Europe with Ukraine.
One of the most important of those initiatives is the planned Vertical Corridor, a regional gas route connecting Greece to Ukraine through southeastern Europe. The corridor is designed to move non-Russian gas supplies, including LNG arriving at Mediterranean terminals, north toward Central and Eastern Europe.
The Black Sea itself is emerging as a major frontier for new European gas supply. Romania and Turkey are already advancing large offshore projects, and OMV Petrom is developing Romania’s Neptun Deep field with state-owned Romgaz. That project is expected to start production in 2027 and could double Romania’s gas output, potentially turning the country into a net exporter.
Preliminary seismic surveys have already been conducted near the Ukrainian discovery being discussed by Naftogaz and OMV Petrom. Industry sources said both 2D and 3D seismic data exist for the area, which lies close to Romanian offshore exploration blocks.
By Charles Kennedy for Oilprice.com
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