Transgaz and Black Sea Oil & Gas start MGD Project offshore Black Sea
Romanian Interior Minister, Niculae Bădălău, has estimated that this project will cover 10% of Romania's annual natural gas requirement.
31 August 2019, 00:50
Transgaz and Black Sea Oil & Gas have signed Final Investment Decision to proceed with the Midia Gas Development Project (MGD Project) offshore Black Sea. According to Romanian Ministry of Economy, gas production will start in the first quarter of 2021.
Romanian Interior Minister, Niculae Bădălău, has estimated that this project will cover 10% of Romania's annual natural gas requirement. So far, $200 million has been invested, and another $400 million is to be invested by Black Sea Oil & Gas until construction is completed - said Niculae Bădălău.
Black Sea Oil & Gas SRL (BSOG), owned by Carlyle International Energy Partners and the European Bank for Reconstruction and Development, is a Romanian based independent oil and gas company, targeting offshore exploration and development of conventional oil & gas resources.
Source:RRA.Translated by Miruna Matei
