Mazarine Energy, based in the Netherlands, has acquired Black Sea Oil & Gas (BSOG) from Carlyle and the European Bank for Reconstruction and Development (EBRD) to expand its operations in the Romanian energy sector. This deal aims to enhance Romania's domestic gas supply and increase investment in the country's energy projects.
Deal Details
Mazarine Energy's acquisition of BSOG requires customary regulatory approvals. BSOG has previously invested over $400 million in the Midia gas development project; a project recognized as the first offshore hydrocarbon production center in the Black Sea of Romania in over 30 years.
Midia Gas Development Project
The Midia gas development project includes the Ana offshore platform, a 126-kilometer underwater pipeline, and a gas processing plant on the Vadu shore. Since its launch in June 2022, this project has become one of Romania's important energy supply sources, producing over 100 million cubic feet of gas daily. This production is expected to account for 11.8% of the country's total natural gas output in the first half of 2026.
Mazarine Energy emphasizes that BSOG will remain the operator of the MGD project to ensure the continuity of this business's operations in the next development phase. This acquisition adds to the Dutch company's previous presence in Romania.
Commitment to Romania's Energy Security
Executives from Mazarine Energy have stated: "Romania has been a key part of our operations since 2017, and we are proud to expand this presence with BSOG. The MGD project is a significant achievement for the country's energy security, and we are committed to continuing the work that the BSOG team has done and supporting Romania's energy supply for years to come."
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