Romania: Midia offshore gas project in Black Sea- BSOG asks for fair taxation

, SEE Energy News

The Black Sea Oil & Gas (BSOG) company, controlled by US group Carlyle, is preparing to start gas production at its Midia project in the Romanian Black Sea next year. Thus, it would become the first company extracting Black Sea gas since OMV Petrom and ExxonMobil have not yet reached final investment decision on their Neptune Deep project.

CEO of BSOG, Mark Beacon said that, for the Black Sea gas projects to take off, it is absolutely necessary that all the legislation hostile to the investors in offshore oil/gas fields, adopted in 2018, is completely abolished.

BSOG and Romanian oil service provider Petroleum Services Group (GSP) launched the installation phase for a 121 kilometers long undersea gas pipeline within the offshore Midia gas development project. The pipeline will ensure the delivery of gas from the Ana gas field to the shore, where a 4.1 kilometers underground pipeline will connect to a new gas treatment plant which is to be built in Vadu village. The processed gas will be delivered into the national transmission system operated by Transgaz at a metering station within the gas treatment plant.

Black Sea Oil & Gas (BSOG), wholly owned by Carlyle International Energy Partners, is a Romanian independent oil and gas company, which targets exploration and development of conventional oil and gas resources. The company’s portfolio consists of XV Midia Shallow Block and XIII Pelican Block in the Romanian Black Sea, where the company is the operator and holds 65 % stake.

Last February, BSOG announced that it has approved the final investment decision to proceed with the 400 million dollars Midia Gas Development Project in the Black Sea. The Midia gas Project consists of five production wells – one subsea well at Doina field and four platform wells at Ana field.