Send to Kindle
The region of Silistar. Photo by Sofia Photo Agency
The Bulgarian Lederbel BG has won the tender to explore for oil in the Black Sea, region of Silistar, overcoming two other Bulgarian and one US company.
Lederbel has received a five-year permit for deep-sea drilling in the Silistar bloc, an area of approximately 7 000 square kilometers near the country's southern Black Sea coast.
The winning company is co-owned by Krasimir Georgiev, the owner of the company Frontier and a known close friend of the former Economy and Energy Minister Rumen Ovcharov (2005-2007) from the former three-way government (2005-2009).
The bid was announced in March 2010 in the Official Journal of the EU for exploration in Bulgaria's southern Black Sea sector (so-called Silistar block).
The contest was initially thought to be exciting, with major companies like Total, Statoil, and Americans Anadarko expressing interest. But in the end, only four smaller companies actually applied. There were different reasons brandied by Bulgarian media for this development, including deadlines that were allegedly too short for large companies, or the geological terrain being not the right kind.
As a result major oil companies such as Total and Anadarko did not find the bid to explore for oil in the Bulgarian Black Sea attractive. Thus, besides Lederbel, only Texas-based Integrity Towers Inc. and two other Bulgarian companies, Overgas Inc. and Chimimport, stayed in the competition.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Bulgarian women participating in the European Individual Chess Championship for Women on the fourth day, held on the island of Rhodes, achieved three victories, one draw, and two defeats
The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), together with the Bulgarian-Ukrainian Chamber of Industry and the support of the Bulgarian Chamber of Commerce and Industry
A bus with Bulgarian registration veered off its path, resulting in 11 injuries, two of which are reported to be severe
Ukraine's defense industry is embarking on a comprehensive overhaul of Bulgarian armored personnel carriers (APCs), which are slated to be deployed to the frontline in the near future
The National Statistical Institute's latest report unveils a marginal annual increase in the income of Bulgarians in 2023 compared to their expenses, marking a reversal of the trend observed in 2022
The majority in the Bulgarian National Assembly has opted to suspend regular plenary sessions and committee meetings for the duration of the pre-election campaign leading up to the parliamentary elections
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
