ExxonMobil, Total, Melrose Resources seek gas exploration rights in Bulgaria.

By bne IntelliNews June 22, 2012
Three companies have placed bids in a competition for natural gas exploration licences in Bulgarian offshore territories, BTA News Agency reported, citing energy minister Delyan Dobrev. These are ExxonMobil, Total and Melrose Resources. Bulgaria hopes to prove the existence of sizable natural gas deposits in its Black sea over an area of 14,000 square metres. The block that will be explored is closed to the recently found 84 billion cubic metres of gas deposits on the territory of Romania, which raises the expectations that drilling will prove successful. Financial proposals for participation in the competition will be submitted by Jul 4 and the winner will be selected by the end of Jul. Drilling is expected to start in late 2013.

Related Articles

EC urges Bulgaria to comply with EU rules on free movement of capital.

The EC has sent a reasoned opinion to Bulgaria over failure to comply with EU rules on the free movement of capital, the EC said on its website. The privatisation act in Bulgaria introduces ... more

Govt seeks delay of antitrust rules violation procedure against Bulgaria.

Bulgaria will be seeking an extension of the court procedure filed by the EC against the country over irregularities found in the assignment of digital broadcast spectrum, transport minister ... more

Bulgarians hold EUR 100mn in deposits in Cyprus.

Bulgarian individuals and companies hold EUR 100mn in Cypriot banks according to ECB data, BTA reported quoting Reuters. The largest EU depositors in the crisis-hit country are Greece with EUR ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335