OMV promises EUR 1 bln investment in Romania. What’s the condition?

OMV announced that EUR 1 billion investment is in store in Romania if the country sets up an acceptable regulatory framework for the company’s exploitation project on the Black Sea, according to

Soon after this framework is adopted, the Austria-based gas company will be able to give its green light for the investment, the OMV upstream chief, Johann Pleininger told a Reuters interview.

The exploration of the Black Sea Neptun block is a joint venture between OMV’s Romanian subsidiary Petrom and U.S. major ExxonMobil and includes the first deep-water exploration well in Romanian waters.


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