FPPG Becomes the Voice of Black Sea Concession Holders after Black Sea Oil & Gas Joined the Federation
The Petroleum and Gas Employers’ Federation (FPPG) announced that its members have received Black Sea Oil & Gas SA (BSOG), one of the most important companies in the Romanian offshore sector. Therefore, FPPG continues its consolidation, even in 2022, completing the entire picture of the Romanian upstream sector both onshore and offshore. The natural gas in the Black Sea is closer to use thanks to BSOG, whose recent accession honours all members of the federation.
Through sustained efforts, FPPG is currently bringing together the main gas producers, which have the capacity to fully cover the domestic production necessary for Romania’s energy independence for the next decade. From this year, bringing together the main Black Sea gas agreement titleholders, the members of the Federation could ensure the necessary energy consumption until 2030 only through offshore projects, blocked by the law meant to facilitate them and whose change is long awaited. Therefore, attesting to its representativeness for the energy sector, the FPPG reiterates the objective of facilitating dialogue for the deblocking of offshore projects and for the most efficient and realistic measures in the assumed energy transition.
“The Petroleum and Gas Employers’ Federation now covers gas production in both the Romanian onshore and offshore sectors, contributing with special responsibility to the transition to the energy future of this region. Increasingly, as the number of our members grows, the united voice of the FPPG is key to oil and gas production, which the current crisis shows is more needed than ever. We face various challenges in addition to starting offshore projects. These include the energy transition, the role of gas in the Romanian energy mix and the new regulations for the free market, but the challenges are part of the industry’s DNA and, together with BSOG, one of the most respected companies on the market and promoting the same climate of cooperation, the federation will firmly support measures for economic recovery and energy independence, closely linked to the encouragement of domestic production of natural resources”, claims Franck Neel – FPPG president.
In the context of the overlapping crises effects at international level that have begun to escalate in the last two years, the Federation once again points out that Romania still has an opportunity that few European countries have – natural resources. The development of the sector it represents can only be achieved through legislation that stimulates investment in exploration and production of resources, by diversifying the natural gas market, increasing the competitiveness and efficiency of the energy sector, while taking care to provide the best conditions for final consumers. The action plan undertaken by the federation, through the support and active involvement of its members, aims at a better correlation of public policies with the need to develop the oil and gas sector both onshore and offshore.
“BSOG is very pleased to join FFPG. FFPG has grown to become the definitive voice of both the onshore and offshore gas industry and we are honoured to play a supportive role in ensuring the Federation is able to reach its objectives. These objectives include ensuring Romania achieves the huge economic and political potential of becoming not only self-sufficient in energy but being a dominant force in Europe from its offshore gas resources. Such objectives can only be realised by having proper understanding between investors and all stakeholders in Romania. We believe on this effort FFPG will deliver for the benefit of Romania,” concludes Mark Beacom – CEO, Black Sea Oil & Gas.
About BSOG
Black Sea Oil & Gas, owned by Carlyle International Energy Partners and the European Bank for Reconstruction and Development, is a Romanian based independent energy company, targeting offshore development of gas resources. The company’s current portfolio is made up of the MGD Project and two gas production licenses at Ana and Doina gas fields in the XV Midia Shallow Concession, Romanian Black Sea, where it is the operator and holds a 70% interest. BSOG operates the Concession on behalf of its partners Petro Ventures Resources (20% interest) and Gas Plus Dacia (10% interest).
Source: FPPG press release
