Mazarine Energy has agreed to acquire Black Sea Oil & Gas, described in the source as Romania's largest offshore gas producer, from private equity firm Carlyle and the European Bank for Reconstruction and Development (EBRD). The deal stage is an agreement; the transaction has not been reported as completed. The purchase price was not disclosed in the sources.
The acquisition is subject to customary regulatory approvals, according to the source.
BSOG led investment of more than $400 million in the Midia Gas Development (MGD) project, which the source describes as the first offshore hydrocarbon production hub in the Romanian Black Sea in more than 30 years. The project encompasses the offshore Ana platform, a 126-kilometer subsea pipeline, and the onshore gas treatment plant at Vadu.
Since coming online in June 2022, MGD has produced more than 100 million standard cubic feet of gas per day and accounted for 11.8% of Romania's total natural gas production during the first half of 2026, according to ANRE's monthly reports cited by the source.
The source frames the deal as expanding Mazarine's footprint in Romania's energy sector as the country looks to bolster domestic gas supplies.