Transgaz, the Romanian gas transmission company and Black Sea Oil & Gas, together with its co-venture partners Petro Ventures Resources and Gas Plus International, have signed an agreement to build a 24.37 km pipeline that will feed gas from Black Sea wells into the national gas infrastructure system, the economy ministry said on Friday.
The consortium announced that they had approved the Final Investment Decision to proceed with the USD 400 million Midia Gas Development Project, offshore Black Sea.
The Midia project, which is the first new offshore gas development project in the Romanian Black Sea to be built after 1989, consists of 5 offshore production wells (1 subsea well at Doina field and 4 platform wells at Ana field) a subsea gas production system over the Doina well which will be connected through an 18 km pipeline with a new unmanned production platform located over Ana field.
"This project will cover 10% of Romania's annual natural gas needs. It is the result of an investment that has so far amounted to $200 million, and a further $400 million are to be invested by Black Sea Oil & Gas until construction is completed," Romania's economy minister Niculae Badalau said.
The estimated completion date is 2021.