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.
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