Black Sea Oil & Gas signs agreement with Engie for the sale of Black Sea gas

Black Sea Oil & Gas (BSOG), a company controlled by U.S. investment fund Carlyle and EBRD, which operates the Midia offshore gas perimeter in the Romanian Black Sea, has signed an agreement with French group Engie, through its Romanian subsidiary, for gas sales.

Under this agreement, which is subject to BSOG investors making the 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 are approximately 0,5 billion cubic meters per year. The gas will be delivered to shore, where it will enter the national gas transport system of Romania.

BSOG also signed recently the contract with state-controlled Romanian company Transgaz for the transport of gas produced in the Black Sea. Black Sea Oil & Gas owns 65% of the Midia Gas Development Project and is also the project’s operator. Its partners in this project are Italian company Gas Plus, which has 15% of the project, and Petro Ventures, a private investment group, which owns the remaining 20%.

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(photo source: Facebook / Black Sea Oil & Gas SRL)