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Commenting article: Black Sea Oil Rush - Why Not in Bulgaria?

2010 has been marked by a noteworthy development which saw major oil companies – spearheaded by American ones – turning their gaze towards the largely untapped oil sources of the Black Sea.

Oil in the Black Sea – a rapid development

In what is maybe the most spectacular deal, in June US giant Chevron teamed with Russian colossus Rosneft to create a joint venture to explore Russian Black Sea waters. The Romanians were not far behind, and after resolving a shelf dispute with neighboring Ukraine, swiftly moved to give no less than 5 permits over the summer to a number of companies, including once again a Russo-American consortium, this time between Lukoil and Vanco. Ukraine itself is claiming it has some 90 oil and gas structures, with about 20 of them ready to be developed.

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#1
Dino the Athenian - 25 Nov 2010 // 23:18:49

I hope BG both finds and safely extracts enough oil and gas towards becoming self-reliant and energy independent.

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