Black Sea Oil and Gas (BSOG) does not have war risk insurance for the Ana and Doina natural gas fields, which have recently started production, but the project moves forward, BSOG CEO Mark Beacom said on Tuesday.He participated in a ceremony at Vadu, Constanta County, to mark the start of natural gas exploitation under the Midia project operated by BSOG. The first gas from these blocks entered the national grid on June 15.According to Beacom, there is no war in Romania's economic zone, but there is an impact. Mines have been detected near the platform, there were warships around, planes flying over the platform. Serpent Island, he said, is not far away, and they have witnessed Crimean platforms being bombed and everything is so close. But he added the company will carry through its project.Asked if the project is insured against such events, he said no. He said you can't have insurance when you're operating near a war, so the company has to take up the risks.Asked if BSOG will drop the lawsuit filed against Romania over some provisions in the Offshore Drilling Law that are still in force, he replied that he has not yet made a decision.In his turn, Gabriel Comanescu, CEO of Grup Servicii Petroliere (GSP), the company that built the project, pointed out that this is the largest infrastructure project carried out in Romania in the last 30 years."It was a complicated project. The first engineering works started in 2019, laying the pipeline on land and under the sea took 90 days, and training started a year before. The offshore platform has no human operators, there is only maintenance and emergency response," Comanescu said.According to him, the BSOG project is a huge step forward towards reducing Romania's dependence on natural gas imports."It is a project made 95% by GSP. From my point of view, it is the largest infrastructure project of the last 30 years, a brand new, tailor-made one. It is made by our strength, made by a Romanian company. It's like we started with a Trabant and ended with a Mercedes S Class," added Comanescu.
The SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate […]
Kantar Romania launched, during an event dedicated to their clients, "The Trust Factor – Building Brands That Endure Uncertainty", the top 20 brands that manage to inspire the greatest confidence among the Romanian consumers, based on the analysis of 162 brands from 12 sectors*. In a period marked by uncertainty and skepticism, trust becomes the […]
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
