Netherlands' Mazarine Signs Agreement to Acquire Romania's Largest Offshore Natural Gas Producer

en.Wedoany.com Reported - On October 29, Dutch oil and gas company Mazarine Energy reached acquisition agreements with US-based Carlyle Group and the European Bank for Reconstruction and Development to acquire Romanian Black Sea natural gas producer Black Sea Oil & Gas (BSOG) and its holding company. The transaction involves the already-operational Midia natural gas development project, which currently produces more than 100 million standard cubic feet of natural gas per day, accounting for 11.8% of Romania's total natural gas production in the first half of 2026. The transaction remains subject to relevant regulatory approvals.

BSOG is the majority interest holder and operator of the Midia natural gas development project, holding a 70% interest in the project. The project is located in Romania's Black Sea waters, and its development facilities include the Ana offshore production platform, a 126-kilometer subsea gas pipeline, and an onshore gas processing plant in Vadu, Constanța County. The project has accumulated investments exceeding US$400 million and began natural gas production in June 2022.

Under the agreement, Mazarine will become a new shareholder of BSOG upon completion of the acquisition, while BSOG will continue to serve as operator of the Midia project. The project also holds natural gas resources awaiting further development, and its existing offshore and onshore facilities are simultaneously included in the scope of research for potential carbon capture and storage projects.

BSOG is also advancing biomethane project development through its subsidiary BSOG Energy, and is studying the use of the Midia project's existing offshore energy corridor and onshore sites for offshore wind-related business. The entities being sold by Carlyle Group and the European Bank for Reconstruction and Development are BSOG and BSOG Holding Activity. The transaction financing involves a bridge financing arrangement provided by commodities trader Trafigura, and the transaction is expected to close in the first quarter of 2027.