Black Sea Oil & Gas SA (BSOG), owned by Carlyle International Energy Partners and the European Bank of Reconstruction and Development, is a Romanian-based independent oil and gas company, targeting exploration and development of conventional oil and gas resources. The company’s current portfolio is made up of XV Midia Shallow Block production area in the Romanian Black Sea where it is the operator and holds a 70% interest.
The company is looking to fulfil its mandate of developing its existing gas resources in the Black Sea (Ana and Doina), undertaking further exploration and appraisal activities in the Black Sea and pursuing further opportunities in Romania as well as in the region.
BSOG is currently developing the Midia Gas Development Project (MGD Project), consisting of five offshore production wells, a subsea gas production system, an offshore production platform, a 125 km upstream gas pipeline consisting of a 121 km offshore section, the rest being located onshore, and an onshore gas treatment plant (GTP). The MGD Project is the first new project to be developed offshore Romania for over 30 years and will create valuable infrastructure for unlocking undeveloped discoveries in the Black Sea.
The MGD Project contains 10 bcm of gas or the equivalent of 10% of Romania’s annual gas needs. The contracting entities involved in this $400mm investment are substantially all Romanian companies.
In February 2019, BSOG’s partners and shareholders have taken the Final Investment Decision in the MGD Project.
BSOG commenced the fabrication of the Ana wellhead platform at the shipyard in Agigea, commenced the civil constructions at the GTP site in Corbu and have purchased a number of long lead company items with a view to have first gas in 2021.
To learn more, visit: https://www.blackseaog.com/