Black Sea Oil & Gas (BSOG), an oil and gas company controlled by US-based investment firm Carlyle, announced that it started the commercial gas extraction in the Black Sea and made the first deliveries into the Romanian gas network on Wednesday afternoon, June 15.

This is a landmark moment for Romania as it marks the completion of the first natural gas development project completed in the Black Sea in 30 years.

BSOG said it would extract 500 million cubic meters of natural gas from two offshore deposits this year. The gas deposits, named Ana and Doina, will provide a billion cubic meters for the three years after, and are scheduled for a decade-long mining process.

The natural gas production in the Midia area will cover 10% of Romania’s domestic consumption and will bring the country closer to independence regarding energy, according to government sources quoted by Libertatea.

“Covering 90% of our natural gas consumption from our own resources makes us into a much more competitive market, especially during a period of overlapping crises,” said prime-minister Nicolae Ciucă.

Gas will be extracted through five sea wells, including one placed below the sea level, that are operated and monitored from the shore. A 126-km underwater pipeline will transport the gas to the processing station in Corbu, Constanţa county. From there, the gas will be injected into the national gas transport network.

BSOG, which is owned by the US-based investment firm Carlyle and the European Bank for Reconstruction and Development, owns a 70% stake in the perimeters and runs the operation. BSOG’s minority partners in this project are Petro Ventures Resources (20%) and Gas Plus Dacia (10%).

A much larger natural gas deposit, estimated to be between 42 and 82 billion cubic meters, is owned by OMV Petrom and the state-owned Romgaz after the US oil giant ExxonMobil exited the partnership. Production in the Neptun Deep perimeter is scheduled to start in 2026.

radu@romania-insider.com

(Photo source: Blackseaog.com)