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BSTDB to lend EUR 15 mln for Romania's offshore gas development

Energy Trade

Photo by m.afiqsyahmi/Shutterstock.com

The Black Sea Trade and Development Bank (BSTDB) has provided a EUR 15 million (USD 18 million) loan for the Midia Gas Development Project (MGD) to develop the Ana and Doina gas fields offshore Romania, according to a report by Romania Journal.

The loan is provided to three Romanian companies, namely Black Sea Oil & Gas SA, Petro Ventures Resources Srl and Gas Plus Dacia Srl. Black Sea Oil & Gas SA is a Romania-based independent oil and gas company, targeting exploration and development of gas resources.

Current portfolio is made up of XV Midia Shallow Block concession in the Romanian Black Sea where it is the operator and holds a 70% interest. Gas Plus is the 4th largest producer of natural gas in Italy active in the main sectors of natural gas industry, holds 10% interest in the concession.

Petro Ventures a private investment group, holds 20% interest in the concession.

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