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BSOG to start gas production in Romania’s Black Sea offshore after Feb. 2021

BLACK SEA
OIL & GAS

BSOG to start gas production in Romania’s Black Sea offshore after Feb. 2021

Black Sea Oil&Gas has maintained its reservation request for up to 90% of the capacity of a connection point that would allow it to inject the natural gas from its offshore perimeter in Romania’s Black Sea section, national transport system operator Transgaz announced, local Economica.net reported.

Specifically, BSOG has reserved 90% of the capacity of the Vadu injection point into the national transport system, starting February 2021. The reserved capacity declines gradually to 1.77% of the capacity in 2035. The profile of the reserved capacity provides a hint on the expected output profile.

BSOG together with its co-venture partners, Petro Ventures Resources and Gas Plus International, said, on February 7, they will proceed with the USD 400 million Black Sea offshore Midia Gas Development Project.

The company discovered two wells holding an estimated 10 bln cubic meters (bcm) of gas in 2008, 120 kilometers offshore in the Black Sea. The investment decision has been taken “on the assumption that BSOG and its joint venture partners will successfully be able to restore all of their rights with respect to the removal of any newly imposed supplemental taxes and fees as well as removing any restrictions.”

Source: Romania Insider

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