Christina Verchere, CEO of OMV Petrom, has officially announced that she will not run for a new term after her current term ends on April 16, 2027. This decision comes as OMV Petrom is close to launching the Neptune Deep gas project.
History and Achievements
Christina Verchere has been leading OMV Petrom since May 2018 and has contributed to the development of the company's strategic projects during this time. In a letter to Emma Delaney, Chair of the Supervisory Board, she stated that she is not willing to continue her collaboration and views this decision as an important milestone in her professional life. Verchere expressed in this letter: "It has been a great honor for me to lead OMV Petrom for 9 years."
Neptune Deep Project and Future Outlook
The CEO of OMV Petrom is resigning as the company is actively preparing for the launch of the Neptune Deep project, which is considered one of the largest offshore energy projects in the Black Sea. This project, along with its 50:50 partner, Romgaz, is expected to start gas production in the first half of 2027 and is projected to deliver an annual production of about 8 billion cubic meters of gas by the end of the third quarter of 2027.
The Neptune Deep project, located about 160 kilometers off the Romanian coast, has estimated recoverable resources of around 100 billion cubic meters of gas. According to the latest financial updates, out of the 10 planned development wells, 8 have been completed, and the Neptune Alpha production platform and gas export pipeline to the shore have also been installed.
This project was approved in 2023 and is seen as an important step in transforming Romania into a major gas supplier in the region.
