Bulgaria to Launch Onshore Oil, Gas Exploration Tenders - Report

Bulgaria is preparing to open tenders for onshore oil and gas exploration, local media reported on Monday quoting deputy energy minister Zhecho Stankov.

The ministry is preparing at least two tender procedures, Stankov said as quoted by Capital Daily. He did not elaborate.

In September, the energy ministry said it had chosen Dutch-based Shell Exploration and Production to explore for oil and gas in Bulgaria's 1-14 Silistar block in the Black Sea. Shell will invest18.6 million euro ($19.9 million) in exploration works, plus a 4.9 million euro bonus it will pay the state upon signing the contract, the ministry said at the times release.

In April the energy ministry opened a tender for five-year permits for oil and gas exploration in two Black Sea blocks - 1-14 Silistar and 1-22 Teres - in line with the government's policy to ensure the diversification of energy supplies.

According to local media, Shell was the only candidate to file a bid in the tender for the 1-14 Silistar block and no bids were filed for the 1-22 Teres block.

(SEENews)

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