Send to Kindle
Photo by ParkPlaceEnergy.com
The Bulgarian government has formally approved a 5-year concession for oil and gas prospecting in a 400 sq.km. area in northeast Bulgaria for North American company Park Place Energy Corp.
Park Place Energy Corp. is registered in the US state of Nevada and based in Calgary and Vancouver, Canada. The area it won to study is said to be very promising.
The company specializes in the extraction of shale gas, a novel and still largely unexplored procedure to capture gas trapped in earth layers. It has projects in both Canada and the USA.
Over the summer strong interest has been voiced by US energy giant Chevron over prospecting for shale gas in northeastern Bulgaria, which was supported by US ambassador James Warlick.
The area granted to Park Place is called "Block 1-11 Vranino" and situated between the towns of Shabla and General Toshevo in Dobrich region.
The procedure was launched July 2009 by Bulgaria's previous government.
This is the second company that gets a permit for shale gas prospecting in Bulgaria. The first permit was issued to US company Direct Petroleum, which claimed to have made significant discoveries in September.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The latest forecast, made 100 days before the Paris Olympics, predicts that the United States will once again lead the medals table, securing the top position for the fourth consecutive Summer Games
The village of Chernookovo in the Dobrich region of Bulgaria was rocked by a horrifying incident that left the community reeling in disbelief and outrage
Tensions between the United States and Israel have escalated following the UN Security Council resolution calling for an immediate ceasefire in Gaza
Natural gas prices in Europe experienced a significant spike, surpassing 2% to reach 29 euros per megawatt-hour (MWh) on Monday
Bulgarian lawmakers have taken a significant step toward bolstering the nation's energy infrastructure by advancing cooperation with the United States for the construction of Units 7 and 8 at the Kozloduy Nuclear Power Plant
A devastating accident near Dobrich has left two people dead and eight others injured
The Nuclear Regulatory Agency (NRA) has greenlit the phased transition to a new type of nuclear fuel for Unit 5 of Kozloduy Nuclear Power Plant (NPP), manufactured by Westinghouse
In a bid to enhance its energy security and diversify its gas supply sources, Bulgargaz is gearing up for the first deliveries of liquefied gas through the Alexandroupolis terminal, set to commence in May
The Greek national electricity company, PPC, has announced plans to acquire 500 megawatts of photovoltaic capacity in Bulgaria
Oil prices have surged due to renewed concerns about the Middle East conflict. Brent crude futures increased by 0.32% to 90.80 USD per barrel, while American WTI crude rose by 0.3% to 86.50 USD per barrel
Bulgaria's state-owned energy company, "Bulgargaz," has suffered a significant setback, losing 27% of its market share as a result of a contract with the Turkish company "Botas"
A remarkable shift in Bulgaria's energy landscape has been unveiled in the latest report from the Commission for Energy and Water Regulation, submitted to the Bulgarian parliament
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022
