At a glance

Black Sea Oil & Gas currently holds one licence comprised of the XIII Pelican and XV Midia Shallow blocks offshore Black Sea, with a focus on…

Black Sea Oil & Gas SRL, 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 one licence comprised of the XIII Pelican block and XV Midia Shallow block in the Romanian Black Sea where it is the operator and holds a 65% interest. Black Sea Oil & Gas operates the blocks on behalf of its partners Petro Ventures Resources SRL (20% interest) and Gas Plus International BV (15% interest).

The licence has been acquired by Carlyle International Energy Partners in August 2015 targeting to fulfil its mandate of developing its existing assets in the Black Sea and pursue further opportunities in Romania as well as in the region.

In November 2017, the European Bank for Reconstruction and Development joined BSOG’s board as minority shareholder.

MGD project which is the 1st offshore gas development project in the Romanian Black Sea after December 1989 has the ability to produce 10% of Romania’s gas needs during 1st phase. Currently there is about 10 Bcm of resources to produce at a rate of about 1 Bcm per annum.

In addition, BSOG has significant exploration potential in its licences, which provide the basis for future growth.