Romanian group gets USD 400 mln contract for offshore gas project in Black Sea

Black Sea Oil&Gas (BSOG), a company controlled by U.S. investment fund Carlyle and the EBRD, has awarded Romanian group GSP Offshore the contract for developing the Midia Gas Development Project in the Black Sea. GSP Offshore is controlled by Romanian investor Gabriel Comanescu. The execution of the contract, which is subject to BSOG shareholders making the final investment decision, covers the procurement, construction, installation and commissioning of the complete subsea gas production system over the Doina field, the construction, installation and commissioning of new unmanned production platform located over Ana field, which will be built at GSP fabrication yard in Constanta, the subsea pipeline system that will link production platform to shore, the onshore pipeline and the new gas treatment plant that will be built in Vadu village. A joined contract has been concluded for the development drilling of the five production wells (1 subsea well at Doina field and 4 platform wells at Ana field) for which GSP will deploy GSP Uranus jack-up rig, according to BSOG. The whole project has an estimated cost of USD 400 million. Building the whole project infrastructure is estimated to take two years. Black Sea Oil & Gas signs agreement with Engie for the sale of Black Sea gas editor@romania-insider.com