February 7, 2019 / 7:39 AM / 7 months ago

Black Sea Oil & Gas to go ahead with $400 mln Romanian offshore project

BUCHAREST, Feb 7 (Reuters) - Romanian-based Black Sea Oil & Gas, controlled by private equity firm Carlyle Group LP, said on Thursday it has decided to go ahead with its $400 million offshore gas project in Romania, the first such project to be developed in 30 years.

The Midia Gas Development Project will extract an estimated 10 billion cubic metres of gas some 120 kilometres offshore in the Black Sea. It is a joint venture between Black Sea Oil & Gas and Petro Ventures Resources and Gas Plus International B.V. (Reporting by Luiza Ilie; Editing by Toby Chopra)

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