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At long last – FID at Romania's offshore Midia Gas Development

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07 February 2019

At long last – FID at Romania's offshore Midia Gas Development

Report summary

On 7 February, Carlyle Group-backed Black Sea Oil & Gas and partners Petro Ventures and Gas Plus announced that FID had been taken at Romania's offshore Midia Gas Development project. We expect the development to cost around US$400 million, and estimate reserves at more than 300 bcf. In this inform we address the following questions: • What is the development plan? • Why was FID delayed? • What does this mean for the nearby ExxonMobil-operated Neptun Deep project? • What does this decision reveal about Black Sea Oil and Gas?

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    At long last – FID at Romania's offshore Midia Gas Development

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