Our mission is to develop our existing gas discoveries in the Black Sea and utilise the newly built onshore and offshore infrastructure for developing other additional gas discoveries in the vicinity as well as providing a significant platform to launch a number of emission free green energy projects.
We believe we are well positioned to achieving these objectives because:
Health, Safety, Environment and Quality are core to our company. We perform our operations in compliance with national and international regulations and best practices in the offshore oil & gas sector.
We have a focus to maintain strong relationships with our community and to have a solid reputation throughout the country for transparency, professionalism, and good governance.
We benefit of solid financial backing from supportive and strong financial shareholders such as The Carlyle Group and the EBRD.
We have put in place a fit-for-purpose workforce and experienced management team. Accountability, perseverance and a pioneering spirit are the main characteristics that define our company.
On June 15th, 2022 we reached 1st gas from the 1st offshore gas development project in the Romanian Black Sea for over 30 years. The MGD Project has the necessary infrastructure to advance both the development of new gas discoveries and green energy projects.
Our ongoing work in Romania is extremely important to the country in terms of developing an industry which could provide, according to a Deloitte study*, over $70Billion to the economy, over 30,000 jobs and over $26 Billion to the state in terms of taxes and royalties. Additionally, the growth of this industry has the potential to make Constanta the Aberdeen of the Black Sea. This industry is also important for the region as the country holds a strategic geopolitical location in terms of access to markets and its ability to provide energy security.