20 November 2018, News Wires — Romanian-based Black Sea Oil & Gas, controlled by private equity firm Carlyle Group LP, says it has signed gas sales agreement with ENGIE through its subsidiary Engie Energy Management Romania for natural gas supply from the Midia Gas Development Project (MGD).
It said ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum of 10 years. Expected contractual volumes at project completion represent 0,5 bcm per year.
Agreement is subject to a final investment decision regarding the project.
Black Sea Oil & Gas CEO Mark Beacom said 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.