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April 12, 2017

Black Sea Oil & Gas awards drilling rig contract for offshore wells to GSP Offshore

Black Sea Oil & Gas (BSOG) has awarded a contract to GSP Offshore for the drilling of two offshore exploration wells in the XV Midia Shallow Block, Romanian Black Sea Continental Shelf.

Black Sea Oil & Gas (BSOG) has awarded a contract to GSP Offshore for the drilling of two offshore exploration wells in the XV Midia Shallow Block, Romanian Black Sea Continental Shelf. 

BSOG has contracted the cantilever-type jack-up drilling rig ‘GSP Uranus’, which will be used to drill two exploration wells situated at water depths up to 100m.

The exploration drilling is expected to start in the last quarter of this year. 

The awarded contract to GSP Offshore also includes auxiliary services such as aviation, logistics and offshore service vessels to support the drilling operations.

BSOG CEO Mark Beacom said: “The Midia Block Concession Holders are targeting prospects that not only could add to the resource base of the Concession Holders but, more importantly, could feed the Midia Gas Development Project currently consisting of the Ana and Doina discoveries that is currently heading towards development approval.”

"The Midia Block Concession Holders are targeting prospects that could feed the Midia Gas Development Project currently consisting of the Ana and Doina discoveries that is heading towards development approval."

Currently, BSOG needs to obtain all the approvals required to develop the Midia Gas Development Project. These include NAMR and ANRE approvals, environmental and construction approvals and permission from local and national authorities. 

BSOG also needs to secure Transgaz approval along with shareholder and partner approvals.

The BSOG partner group expects to obtain all these approvals this year. It will then take another two years to build the offshore platform, drill development wells, deploy offshore and onshore pipelines and gas treatment plant construction.

Black Sea Oil & Gas is wholly owned by Carlyle International Energy Partners.

The company focuses on exploration and development of conventional oil and gas resources.

Currently, BSOG portfolio includes XV Midia Shallow Block and XIII Pelican Block concession in the Romanian Black Sea, where it holds a 65% interest along with operatorship. 

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