EBRD buys minor stake in Black Sea Oil & Gas

Romanian independent Black Sea Oil & Gas has received investment from the EBRD for its operations in the Black Sea.
By Staff reporter 30 November 2017 0 28617

Romanian independent Black Sea Oil & Gas (BSOG) has received investment from the European Bank for Reconstruction and Development (EBRD) for its operations in the Black Sea, the company said in a note on Wednesday.

The EBRD has become a minority shareholder in the company and will hold one board seat.

According to BSOG, the transaction will help the company with its Midia Gas Development project, which is approaching FID.

"With this landmark equity transaction, our intention is to support the development of the private upstream oil and...

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