Black Sea Oil & Gas receives approval from the Romanian Government for the Field Development Plan for the Ana and Doina Gas Fields

Bucharest, Romania, 15 April 2019: 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”) are pleased to announce that, following the taking of FID on February 6, 2019, 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.”

About BSOG
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 exploration and development of conventional oil & gas resources. The company’s current portfolio is made up of XV Midia Shallow Block and XIII Pelican Block concession in the Romanian Black Sea where it is the operator and holds a 65% interest.
Gas Plus is the fourth largest producer of natural gas in Italy active in the main sectors of natural gas industry, particularly in exploration, production, purchase, distribution and sale to retail customers. At 31 December 2017, the Group had 45 exploitation concessions located throughout Italy, a total of approximately 1,600 kilometers of distribution network in 39 municipalities, serving a total of more than 72,000 end users, with a staff of 181 employees. Gas Plus holds 15% interest in the XV Midia Shallow Block and XIII Pelican Block concession in the Romanian Black Sea.
Petro Ventures, a private investment group, holds 20% interest in the XV Midia Shallow Block and XIII Pelican Block concession in the Romanian Black Sea.

Source: www.blackseaog.com