Partners find buyer for Romanian offshore gas
Black Sea Oil & Gas and partners Petro Ventures Resources and Gas Plus International have signed a gas sales agreement with ENGIE subsidiary Engie Energy Management Romania.
NUCHAREST, Romania – Black Sea Oil & Gas (BSOG) and partners Petro Ventures Resources and Gas Plus International have signed a gas sales agreement with ENGIE subsidiary Engie Energy Management Romania.
Subject to a final investment decision (FID) on theMidia gas development in the Romanian sector of the Black Sea, ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum period of 10 years at a probable rate of 0.5 bcm annually.
Supplies will be delivered at the Vadu entry point into the country’s national natural gas transmission system from Romania.
Midia involves drilling five production wells, comprising one subsea well on the Doina field and four platform wells at the Ana field.
The subsea gas production system over the Doina well will be connected through an 18-km (11-mi) subsea pipeline to a new unmanned production platform over Ana, with the gas heading onwards through a 126-km (78-mi) pipeline to the shore and a new gas treatment plant.
However, BSOG CEO Mark Beacom cautioned that the partners needed to assess the impact of Romania’s new Offshore Law on the project’s economic viability before committing to the FID.