Black Sea Oil & Gas receives approval from the Romanian Government for the field development plan for new gas fields

Black Sea Oil & Gas SRL (“BSOG”) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus International B.V. (“Gas Plus”) announced that they have now received the approval from the Romanian Government through the National Agency for Mineral Resources (“NAMR”) for their Field Development Plan (“FDP”) for the development of the Ana and Doina natural gas fields which make up the Midia Gas Development Project (“MGD Project”), offshore Black Sea.

The MGD Project, which is the 1st new offshore gas development project in the Romanian Black Sea to be built after 1989, consists of 5 offshore production wells (1 subsea well at Doina field and 4 platform wells at 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 shore and to a new onshore gas treatment plant (“GTP”) in Corbu commune, Constanta county, with a capacity of 1 BCM per year representing 10% of Romania’s consumption. The processed gas will be delivered into the National Transmission System operated by SNTGN Transgaz SA (“Transgaz”) at the gas metering station to be found within the GTP.

In 2019, BSOG anticipates having completed the detailed engineering for the MGD Project, commenced the fabrication of the Ana Wellhead Platform at the shipyard in Agigea, commenced the civil constructions at the GTP site in Corbu and have purchased & delivered a number of company items.

Mark Beacom, BSOG CEO, commented: “This approval from NAMR provides the official acknowledgement from the Romanian state that the MGD project is an approved project. We very much appreciate the swift handling of our FDP application by the Agency.”

Gigi Dragomir, NAMR President, said: “The Development of the Ana and Doina gas fields offshore Romania is a top priority for NAMR, which supports the implementation of the Romanian Offshore Project that could lead to the diversification of the supply sources in Romania.”