October 2019   |   Black Sea region

Black Sea Oil & Gas confirms potential of Romania’s offshore Dacian play

Posted by GBC on 03-08-2018

Mark Beacom, Director and CEO of Black Sea Oil & Gas will be speaking at Black Sea Oil & Gas conference. Please, check conference agenda here for more information.

Black Sea Oil & Gas (BSOG) and its partners have completed a 2-well offshore exploration drilling program on the XV Midia block in the Romanian Black Sea. The wells did not delivery the anticipated gas discoveries, but one of the wells confirmed the potential of the Dacian play.

BSOG used a four-legged, self-elevating jack up, the GSP Saturn, owned by GSP Drilling, a Grup Servicii Petroliere subsidiary. The first well on the drilling program, Iulia-1, was drilled in 73 m of water 115 km offshore. It spudded on May 8 with 2,110 m TVD targeting the Pontian formation. The Iulia-1 well did not encounter any gas-bearing reservoir.

The second well, Paula-1, was drilled in 88 m of water 147 km offshore. It spudded on June 17 with 1,036 m TVD, targeting the Dacian formation. The net pay and volume of dry gas discovered at Paula-1 did not prove commercially viable for testing.

Mark Beacom, BSOG Chief Executive Officer, commented: “This offshore drilling campaign demonstrates the risks that are inherent in trying to find gas resources offshore in the Black Sea where the chance of success is no greater than 25%.  Successful efforts in this drilling campaign would have not only added gas resources to the country, thereby increasing its security of supply, but also made use of the infrastructure that is being proposed for the Midia Gas Development Project (“MGD”). Although the campaign did not deliver the expected gas discoveries, from an operational and HSE point of view, the wells have been successful.”

BSOG, owned by Carlyle International Energy Partners and the European Bank for Reconstruction and Development, is a Romanian-based independent oil and gas company targeting exploration and development of conventional oil and gas resources. Its assets are the XV Midia Shallow Block and XIII Pelican Block concession in the Romanian Black Sea where it is the operator with 65% interest.

News source: Oil & Gas Journal, Black Sea Oil & Gas website