Black Sea Oil & Gas signs Romanian gas sales agreement with Engie
Romanian-based Black Sea Oil & Gas, controlled by private equity firm Carlyle Group LP * Says signs gas sales agreement with ENGIE through its subsidiary Engie Energy Management Romania for natural gas supply from the Midia Gas Development Project (MGD). * Says ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum of 10 years. * Says expected contractual volumes at project completion represent 0,5 bcm per year. * Says agreement is subject to a final investment decision regarding the project. * Black Sea Oil & Gas CEO Mark Beacom says an assessment of an offshore bill recently approved by parliament on the project’s economic viability remains “a key part” in determining whether a final investment decision will be made. * MGD will consist of five offshore production wells, a subsea gas production system, an offshore production platform, a 126 km offshore and onshore gas transmission pipeline and an onshore gas treatment plant. * In 2017, Black Sea Oil & Gas said it aimed to start production at two gas fields off Romania by 2019, becoming the first company to tap the country’s offshore resources.
