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Black Sea Oil & Gas, ENGIE sign gas sales agreement for Midia offshore project
Black Sea Oil & Gas SRL and its co-venture partners, Petro Ventures Resources SRL and Gas Plus International B.V. announced in a press statement the signing of the gas sales agreement with ENGIE through its subsidiary Engie Energy Management Romania S.R.L. for the supply of natural gas from the Midia Gas Development Project ('MGD Project').
Under this agreement, which is subject to Final Investment Decision, ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum period of 10 years in compliance with Romanian law. Expected contractual volumes at project completion represent 0.5 billion cubic metres per year. The gas will be delivered at the Vadu entry point into Romania's National Natural Gas Transmission System.
The MGD Project consists of 5 production wells (1 subsea well at the 'Doina' field and 4 platform wells at the 'Ana' field), a subsea gas production system over the Doina well which will be connected through an 18 km pipeline with a new unmanned production platform located over Ana field. A 126 km gas pipeline will link the Ana platform to the new on-shore gas treatment plant.
Black Sea Oil & Gas SRL, owned by Carlyle International Energy Partners and the European Bank for Reconstruction and Development, is a Romanian based independent oil and gas company, targeting offshore exploration and development of conventional oil and gas resources. The company's current portfolio is made up of one licence comprised of the XV Midia shallow block in the Romanian Black Sea and the XIII Pelican block where it is the operator and holds a 65 pct interest. BSOG operates the blocks on behalf of its partners Petro Ventures Resources SRL (20 pct interest) and Gas Plus International BV (15 pct interest).