Bulgaria May Discover Oil, Gas near Svilengrad
There is a good chance of discovering oil and gas near the Bulgarian-Turkish border, according to Delyan Dobrev, Minister of Economy, Energy, and Tourism.
Oil and gas exploration activities have been launched near Svilengrad, but there is no accurate information about the capacity of the potential new deposits, according to reports of the Bulgarian National Television (BNT).
"Even if the quantity of discovered gas is similar to the quantity of gas discovered at Deventsi or at Galata, this would still satisfy around 10% of the national consumption for a certain period of time. It is also important that this gas is significantly cheaper than imported alternatives and these gas concessions fetch huge revenues into state and municipal budgets" Dobrev commented.
It was announced that the exploration activities would first be conducted at Block 1-18 Trakia, which encompasses the municipalities of Svilengrad, Madzharovo, Harmanli, and Lyubimets.
The terrain is part of the so-called oil-gas basin on the territories of Bulgaria, Greece and Turkey, with 24 gas and 3 oil deposits already discovered in Turkey.
- » Bulgaria’s Fuel Production, Imports Increase Substantially in March
- » Bulgaria's Energy Regulator Proposes 2 % Increase of Electricity Prices from July 1
- » Ex-PM Demands Lukoil Bulgaria's Crude Import Contracts
- » EU Funding is Available for Bulgarian Gas Hub Construction, Minister Petkova says
- » Lukoil Bulgaria Threatens to Sue Risk Management Lab over Damaging Allegations
- » Launch of Power Exchange Will Not Lead to 30-40% Price Spike – Watchdog Chair