Romanian Prime Minister Sorin Grindeanu discussed yesterday with representatives of the Carlyle Group, the biggest private equity firm in the world, on developing their investments in energy in the Black Sea region.

The company representatives announced their intention to move as quickly as possible to the production stage for the natural gas resources owned in concession in the Black Sea continental platform. The group is also interested in finding new investment opportunities in Romania, according to a press release issued by the Government.

The Prime Minister said that the Government is willing to facilitate access to investors on the Romanian market.

One week ago, the firm Black Sea Oil & Gas (BSOG), which is fully owned by Carlyle Group, has awarded a contract for drilling two offshore exploration wells, located in the XV Midia perimeter of the Romanian Black Sea, to GSP Offshore, a local provider of drilling services.

In mid-February, BSOG CEO Mark Beacom announced that the company had found in the Romanian Black Sea between 10 and 20 billion cubic meters of natural gas, and production could begin in 2019. He estimated that the project could produce about 10% of Romania’s consumption in the next five years.

editor@romania-insider.com