Shell Exploration and Production, a subsidiary of Royal Dutch Shell, started drilling for oil and gas in a Bulgarian block in the Black Sea last week, the energy ministry announced on Thursday.
Shell started seismic exploration in offshore block 1-14 Silistar,
according to a presentation prepared by the ministry and shown at the Black Sea
Oil and Gas conference taking place in Sofia.
In February, the energy ministry said that Royal Dutch Shell signed a five-year
term contract for exploration for oil and gas in the Silistar block. The
company will pay the government 4.9 million euro (excluding VAT) and committed
toinvest 18.6 million euro ($20.45 million) in research activities.
Bulgaria's 1-14 Silistar block spreads on an area of 6,893 sq km in the Black Sea.
(SeeNews)
