Private equity-backed Black Sea Oil & Gas (BSOG) announced that it had completed its first planned maintenance of the Midia gas project and resumed full production on October 26. The project, which began production in June 2022, is estimated to produce around 10 billion cubic meters (Bcm) of gas, and currently operates at an equivalent of 1 Bcm per year.
Composition and partners of the Midia project
After 16 months of gas production with 100% delivery to its purchaser, the project facilities underwent a three-day period of inspections, cleaning and maintenance. This operation is designed to guarantee another year of 100% gas delivery until the next maintenance. The Midia project comprises the Doina and Ana offshore fields, with a total of five offshore production wells, one subsea well at Doina and four platform wells at Ana.
A 126 km pipeline links the Ana platform to an onshore gas processing plant with a capacity of 1 Bcm per year. BSOG, majority-owned by the Carlyle Group, holds 70% of the project. Its partners are Petro Ventures Resources with a 20% stake and Italian gas producer Gas Plus Dacia with 10%.
Romania as future leader in EU gas production
The initiative helped boost Romania’s gas production last year, with a total year-on-year increase of 2% to 97.82 TWh (9.2 Bcm). Romania is currently the EU’s second largest gas producer after the Netherlands, but is set to become the leading producer with the start-up of the Neptun Deep field in 2027.
With gas prices still relatively high in Europe, the EU continues to look for new sources of supply. Romania’s Black Sea gas is an obvious option for accelerated development.
BSOG’s successful completion of the first planned maintenance of the Midia gas project marks a major step towards securing Europe’s gas supply. With Romania poised to become the EU’s leading gas producer, all eyes are on the future and the opportunities this could offer in terms of diversifying energy sources.
