Black Sea Oil & Gas SA

Black Sea Oil & Gas SA (BSOG), owned by Carlyle International Energy Partners and the European Bank for Reconstruction and Development, is a Romanian based independent energy company, targeting offshore development of gas resources in line with the European Union’s Zero Emissions Goal by 2050 by offering natural gas production as a transition fuel and providing vital infrastructure for the ability to develop green energy projects. The company’s current portfolio is made up of the Midia Gas Development (MGD) project which consists of the onshore and offshore infrastructure and the two gas production licences at Ana and Doina gas fields in the XV Midia Shallow Concession in the Romanian Black Sea where it is the operator and holds a 70% interest. BSOG operates the Concession on behalf of its partners Petro Ventures Resources SRL (20% interest) and Gas Plus Dacia SRL (10% interest). The Midia Gas Development Project (MGD Project), which is the 1st new offshore gas development project in the Romanian Black Sea to be built in over 30 years has the ability to produce 10% of Romania’s gas needs. Currently there is about 10 Bcm of resources to be produced at a rate of about 1 Bcm per annum. The development of this infrastructure in the Black Sea of the MGD Project is aimed not only to accommodate the production of gas from the Ana and Doina reservoirs but is envisioned to provide a significant advantage for developing green energy projects both during and after the production life of the Ana and Doina gas fields.