European energy company OMV Petrom has awarded drilling and services contracts for its Neptun Deep natural gas project offshore Romania in the Black Sea.

The company has signed an estimated €325m ($377.38m) agreement for the Transocean Barents semi-submersible drilling rig for at least one and a half years.

Halliburton Romania was awarded another €140m contract for integrated drilling services.

OMV Petrom said the agreement for Transocean’s drilling rig comprises personnel as well as related goods, services and supplies.

Drilling operations for a total of ten wells are expected to begin in 2025, with the mobilisation of Transocean Barents to the Black Sea likely to begin by the end of 2024.

Integrated drilling services such as cementing, directional drilling and well completions will be offered by Newpark Drilling Fluids Eastern Europe and Halliburton Energy Services Romania.

In June this year, OMV Petrom and its partner Romgaz announced the final investment decision for the Neptun Deep project, with plans to invest €4bn.

As the operator, OMV Petrom owns a 50% stake, and the remaining 50% stake is controlled by Romgaz.

The project, which is scheduled for commissioning in 2027, is expected to produce a maximum of eight billion cubic metres of natural gas per year for nearly a decade.

The companies aim to develop two fields – Domino and Pelican South – as part of the project.

OMV Petrom said the infrastructure needed to develop two fields consists of a shallow water offshore gas platform, the main natural gas pipeline to the shore at Tuzla, three subsea production systems, and the flow lines and umbilicals.

OMV Petrom CEO Christina Verchere said: "With the award of the drilling rig and integrated drilling services agreements, OMV Petrom has now secured more than 80% of the execution agreements required to deliver the Neptun Deep project.”

In August this year, OMV Petrom awarded a €1.6bn engineering and construction contract to Saipem for the Neptun Deep gas project.