Ijdelea Mihailescu has provided legal assistance to Black Sea Oil & Gas in relation to the Engineering, Procurement, Construction, Installation & Commissioning Contract for all offshore and onshore facilities and Development Drilling Contract with GSP Offshore for the Midia Gas Development Project, offshore Romania.
The value of the contracts make up the majority of the totaled installed Midia Gas Development Project ("MGD Project") cost of USD 400 million.
Black Sea Oil & Gas is a Romania-based independent oil and gas company owned by the Carlyle Group and the EBRD that targets offshore exploration and development of conventional oil & gas resources. Earlier this month Ijdelea Mihailescu assisted the company on its entrance into a gas transmission contract with SNTGN Transgaz necessary for the MGD Project as reported by CEE Legal Matters on November 13, 2018.
The MGD Project consists of five production wells (one subsea well at Doina field and four platform wells at Ana field), and 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. A 126 km gas pipeline will link the Ana platform to the shore and to a new gas treatment plant. The processed gas will be delivered into the National Transmission System operated by Transgaz at the gas metering station to be found within the GTP.
The Ijdelea Mihailescu team was led by Partner Oana Ijdelea.