The initial drilling will take around three months and will provide more information about the resources available and whether they could be exploited, Dobrev told an energy conference in Sofia organised by Economedia, the publisher of weekly Capital and capital daily.
Potential commercial production of oil and/or gas, which is crucial forBulgaria's energy diversification, could start after several years, he noted.
In January 2014, the three companies completed a 210-day 3D seismic survey, covering 7,740 sq km. It came after a 2D seismic survey of 3,000 km, which was completed in October 2013.
However, in December 2014, the consortium decided to delay drilling at the block due to the slump in global oil prices.
The 1-21 Han Asparuh block is located deep offshore in the Bulgarian sector in the western part of the Black Sea and covers an area of 14,220 sq km with water depths up to 2,200 m. Total has a 40% interest in the project while OMV and Repsol own stakes of 30% each.
Last month, Royal Dutch Shell signed a contract for exploration for oil and gas in nearby 1-14 Silistar block, which covers an area of 6,893 sq km in the Black Sea. Shell committed toinvest 18.6 million euro ($20.9 million) in research activities and pay the state a bonus of 4.9 million euro.
(SeeNews)
