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  • Black Sea Oil & Gas signs the Gas Sales Agreement with ENGIE for natural gas supply from the MGD Project
    édité le 20/11/2018 - Plus de news de "Black Sea Oil & Gas" - Voir la fiche entreprise de "Black Sea Oil & Gas"


Black Sea Oil & Gas signs the Gas Sales Agreement with ENGIE for natural gas supply from the MGD Project
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 the signing of the Gas Sales Agreement (“GSA”) with ENGIE through its subsidiary Engie Energy Management Romania S.R.L. (“Engie”) for natural gas supply from the Midia Gas Development Project (“MGD Project”).

Under this agreement, which is subject to Final Investment Decision, ENGIE will purchase gas from the Ana and Doina gas reservoirs over a minimum period of 10 years in compliance with Romanian law. Expected contractual volumes at project completion represent 0,5 bcm per year. The gas will be delivered at Vadu entry point into the National Natural Gas Transmission System from Romania.

The MGD Project consists of 5 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 Gas Treatment Plant.

Black Sea Oil & Gas CEO, Mark Beacom, commented: “We are delighted to have secured this important agreement for the sale of our gas. BSOG is working steadily towards achieving all the remaining milestones on the project required to reach FID such that a decision can be taken on whether to approve FID. The assessment of the Offshore Law on the project’s economic viability remains a key part in determining whether a favorable decision to FID will be taken.”

Edouard Neviaski, CEO of ENGIEs Global Energy Management business unit stated: “ENGIE is proud to support the MGD Project partners and we look forward to managing the first gas production from the Black Sea, a very exciting new source in Romania. The MGD project gas can be stable long-term source of supply for the development of ENGIE’s position in Romania and the region and we strongly believe that this would enhance Romanian security of supply for years to come.”

About Black Sea Oil & Gas

Black Sea Oil & Gas SRL (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 offshore exploration and development of conventional oil & gas resources.

About ENGIE

We are a global energy and services group, focused on three core activities: low-carbon power generation, mainly based on natural gas and renewable energy, global networks and customer solutions. Driven by our ambition to contribute to a harmonious progress, we take up major global challenges such as the fight against global warming, access to energy to all, or mobility, and offer our residential customers, businesses and communities energy production solutions and services that reconcile individual and collective interests.
Our integrated - low-carbon, high-performing and sustainable - offers are based on digital technologies. Beyond energy, they facilitate the development of new uses and promote new ways of living and working. Our ambition is conveyed by each of our 150,000 employees in 70 countries. Together with our customers and partners, they form a community of imaginative builders who invent and build today solutions for tomorrow.
2017 turnover: 65 billion Euros. Listed in Paris and Brussels (ENGI), the Group is represented in the main financial (CAC 40, BEL 20, Euro STOXX 50, STOXX Europe 600, MSCI Europe, Euronext 100, FTSE Eurotop 100, Euro STOXX Utilities, STOXX Europe 600 Utilities) and extra-financial indices (DJSI World, DJSI Europe and Euronext Vigeo Eiris - World 120, Eurozone 120, Europe 120, France 20, CAC 40 Governance).
In France, ENGIE has a diversified power generation portfolio with more than 10,000 MW of installed capacities, 70% of which is renewable energy. ENGIE is the leader in wind power with 1,900 MW of installed capacity, the leader in solar power with nearly 1,200 MWp and is the alternative leader in hydroelectric production with an installed capacity of 3,800 MW (figures at end of July 2018).


Origine : Communiqué Black Sea Oil & Gas

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