Expro Secures $10M Contracts for Neptun Deep Gas Project in Romania.
Expro (NYSE: XPRO), a leading energy services provider, has been awarded over $10 million in contracts from OMV Petrom for the Neptun Deep gas project in the Black Sea offshore Romania.
These contracts will see Expro provide essential services including subsea landing string (SSLS), SeaCure® cementing technology, tubular running services (TRS), and Coretrax Advance drilling tools, all critical to the project's success.
Neptun Deep: A Major Gas Initiative for Romania's Energy Future
The Neptun Deep gas project is Romania's largest natural gas project and plays a vital role in the country’s energy security. With these new contracts, Expro continues to expand its footprint in Romania, strengthening its support for the region’s energy sector.
Expanding Expro’s Presence in Romania
In addition to securing these contracts, Expro has made significant investments in Romania, including the opening of a new office in Bucharest and establishing an operational base. The company is also focusing on growing its Romanian-based workforce to further support its expansion in the region.
Andrei Ion, Expro Senior Area Manager for Europe, Mediterranean, and Caspian, commented:
“With the awarding of these contracts, Expro is advancing our plans to expand operations and strengthen our support of the energy industry in Eastern Europe and beyond. Neptun Deep is an important energy project for Romania, and we’re proud to contribute to its development.”
Expro’s Comprehensive Capabilities
Expro’s extensive range of services covers the entire well lifecycle, from well construction to subsea well access, well flow management, and well integrity solutions. With over 8,000 employees across 60 countries, Expro is well-equipped to provide cost-effective, innovative solutions to leading exploration and production companies worldwide.
Expro is a global leader in energy services, specializing in the entire well life cycle, including well construction, well flow management, subsea well access, and well intervention solutions. Founded in 1938, Expro operates in over 60 countries and has more than 8,000 employees.
The company is dedicated to providing innovative, cost-effective solutions with an emphasis on safety and service quality. Expro’s diverse capabilities support exploration and production companies, helping them address complex energy challenges in both onshore and offshore environments.
Expro focuses on sustainable energy solutions, such as geothermal energy and carbon capture utilization and storage (CCUS). The latest contracts for the Neptun Deep project solidify Expro’s leadership role in providing innovative energy solutions in both onshore and offshore environments.
OMV Petrom is the largest integrated energy producer in Southeastern Europe, active across the entire energy value chain. The company operates in exploration and production of oil and gas, refining, fuel distribution, power generation, and gas and power marketing. OMV Petrom plays a key role in providing essential energy for mobility, light, and heat.
It is one of the largest private investors and taxpayers in Romania, having paid approximately €45 billion in taxes and dividends between 2005 and 2024. The company is also a major private employer, with around 10,500 employees. In addition to its economic contributions, OMV Petrom has invested approximately €20 billion over the past two decades and has allocated €190 million towards community development, focusing on environmental protection, education, health, and local development. The company's vision includes leading the energy transition in Southeastern Europe while ensuring sustainable growth and high returns for its stakeholders.
Romgaz is Romania's largest natural gas producer and primary supplier, with operations spanning gas exploration, production, and underground storage. Established in 1909, the state-owned company is publicly listed on the Bucharest and London Stock Exchanges.
Romgaz owns the Iernut thermoelectric power station and, since 2022, has held interests in the Neptun Deep offshore block in the Black Sea. Known for adopting advanced technology, Romgaz plays a key role in Romania’s energy sector, contributing to both economic growth and innovation.
The contracts awarded to Expro mark a significant step forward in the company’s growth and its commitment to supporting major energy projects in Romania and Eastern Europe. The Neptun Deep gas project is an important development for Romania’s energy future, and Expro’s expertise will play a key role in its success.
