Black Sea Oil & Gas (EBRD-48811)

  • Romania
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 18, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
The holder of the loan, grant, or other investment.
  • Construction
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Sep 14, 2017

Disclosed by Bank Aug 18, 2017

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Project Description
This project finances expansions in Black Sea Oil & Gas SRL's exploration, and the development of the Middle Gas Development Project in Romania, a 125 km offshore and onshore gas transmission pipeline, and an onshore gas treatment plant.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
BLACK SEA OIL AND GAS SRL Black Sea and Gas SRL is a Romanian based independent oil and gas company, targeting exploration and development of conventional oil and gas resources. The company is wholly owned by Carlyle International Energy Partners (CIEP or the sponsor), a USD 2.5 billion energy focused fund managed by The Carlyle Group, a global alternative asset manager. The company holds a 65 per cent working interest in the concession. The other parties in the concession are Petro Ventures Resources SRL with a 20 per cent working interest and Gas Plus International B.V. with a 15 per cent working interest.
Contact Information
Ana-Maria Pericleanu, Communication Coordinator +40 21 231 32 56 175 Calea Floreasca, 10th floor Sector 1, 014459 Bucharest, Romania ACCOUNTABILITY MECHANISM OF EBRD The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at or you can submit a complaint online using an online form, You can learn more about the PCM and how to file a complaint at