Black Sea Oil and Gas to deliver first offshore gas from Romania’s Black Sea in 2021

Black Sea Oil and Gas (BSOG), the only company that has already made the final investment decision to exploit an offshore gas perimeter in Romania’s Black Sea, maintains its goal of bringing the first gas to shore in 2021 despite the operations lagging slightly behind schedule.

“We are a little late, the project is at 25% [versus 50% planned], but we will start the extraction in 2021,” Mark Beacom, CEO of Black Sea Oil and Gas, said at ZF Power Summit, local reported.

He explained that BSOG will spend another USD 300 million to start commercial gas extraction, after spending USD 200 million.

Beacom once again drew the authorities’ attention that the legislation on gas exploitation should be amended before BSOG starts delivering gas from the offshore perimeter.

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