Globuc prepared an overview of the offshore projects in the Black Sea Oil & Gas. Projects and companies that you should watch out for in 2019. Not to miss important news and updates about these projects and the industry – sign up for our newsletter.
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.
1 BCM per year representing 10% of Romania’s consumption
Contingent resources in the field:
320 billion cubic feet of gas
Black Sea OIl & Gas (65%) [Carlyle Group]
Petro Ventures Europe (20%)
Gas Plus (15%)
XIX Neptun Deep
The largest project in the region by production volume and investment in exploration. Deep Sea production – technological challenge.
- Financial Investment Decision is on hold due to regulatory changes.
- In 2012, Domino-1, the first deepwater exploration well in Romania, confirmed the existence of a natural gas reservoir.
- In January 2016, the second exploration drilling campaign in the Romanian deep water sector of the Black Sea was successfully completed, with seven wells drilled, the majority of them having encountering gas.
- In 2017, extensive engineering activities took place in preparation for the potential final investment decision.
- 31/01/2019 – Government extends offshore agreements with ExxonMobil and OMV Petrom to 2045
$1,5 – 2 billion
6.5 billion cubic meters per year
OMV Petrom (50%)
- Lebada East (production started in 1987)
- Lebada West (production started in 1993)
- Sinoe (production started in 1999), Pescarus (production started in 2003)
- Delta (production started in 2009)
Together, they accounted for 185 million barrels of oil, 8 million barrels of condensate and 48 bcm of gas.
Due to their long history exploitation, the oil and condensate reserves are almost depleted, while the remaining gas resources are around 6 bcm, according to market reports. OMV Petrom has commenced production from the LVO7 well offshore Romania, which has been drilled at the Lebada Vest field.
- The spud of the first well Khan Kubrat-1 to commence in the first week of April 2019 and to last for about 3 months;
- The possible second well in the pipeline, at a new location if this one is successful;
- Recently signed addendum with the Ministry of Energy;
Offshore driller Noble Corporation said that Shell would start drilling in Bulgaria using its Noble Globetrotter II drillship in early January, on a dayrate of $275.000. Bourbon Marine & Logistics has won its first integrated logistics contract to support Shell’s exploration campaign in the Black Sea, Bulgaria. Bourbon is partnering up with Bulgarian operator Bon Marine.
3/03/2019 – Bulgaria’s government said that it accepted a request by France’s Total, Austria’s OMV and Spain’s Repsol to extend by 109 days the permit held by the three companies for exploring for oil and natural gas in the 1-21 Han Asparuh offshore block in the Black Sea. The extension is a result of a force majeure event, the government said in a statement, without giving further details about the event.
Total E&P Bulgaria (40%)
Disclaimer: to the best of our knowledge, the information contained herein is accurate as of the date of publication; however, we do not assume any liability for the accuracy and completeness of the above information.
May 16, 2019