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.
- » European Underground Gas Depots 91.37% Full by Sept 21
- » Former CEO of Kozloduy NPP: Bulgaria Needs Energy Strategy by 2050
- » Bulgaria, Azerbaijan Sign 2 Agreements on Gas Projects
- » Plevneliev: Southern Gas Corridor Will Boost Europe’s Energy Security
- » Bulgaria Energy Watchdog Proposes 9.8% Rise in Power Prices
- » Burgas Miners End Strike