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.
- » Gazprom Puts Forward New South Stream Route
- » Bulgaria's NEK Repays EUR 309 M Debt to Local Unit of U.S.-based AES Corp
- » Bulgaria’s BEH Signs EUR 535 M Loan Deal to Repay Debt to Units of AES, ContourGlobal
- » Competition Regulator Carries out Inspection at OMV Bulgaria
- » Bulgaria's Competition Watchdog Conducts Inspections at Shell, Eko
- » Noble Globetrotter II to Start Drilling for Gas off Bulgaria’s Coast in May