Bulgaria's Energy Minister Vows Oil, Gas Exploration in All Black Sea Blocks

Business » ENERGY | January 11, 2013, Friday // 14:22| Views: 2290 | Comments: 0
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Bulgaria: Bulgaria's Energy Minister Vows Oil, Gas Exploration in All Black Sea Blocks Bulgaria will concentrate efforts on oil and gas exploration in its entire Black Sea aquatory, according to Economy and Energy Minister Delyan Dobrev. Photo by BGNES

Bulgaria will concentrate efforts on oil and gas exploration in its entire Black Sea aquatory, according to Economy and Energy Minister Delyan Dobrev.

Speaking at the first session of the Council of Ministers in 2013 on Wednesday, Dobrev noted that oil and gas exploration activities should have taken place a long time ago, which would have enabled Bulgaria to reach the stage of granting concessions for oil and gas production.

Dobrev informed that exploration activities had been launched in all Black Sea exploration blocks except for Silistar and St. Marina.

On Wednesday, the Bulgarian government approved the launch of a tender for issuing an oil and gas exploration permit for 5 years for the 1-23 St. Marina Block spanning 1.612 square kilometers in the continental shelf and the exclusive economic zone

The decision is to be promulgated in the State Gazette and the Official Journal of the EU.

With another decision, the government extended the oil and gas exploration permit for Block 1-4 Kavarna by 36 months.

The holder of the permit, Oil and Gas Exploration and Production AD is to invest up to EUR 3 320 000 in the implementation of its work program.

As regards the Silistar block, the tender which resulted in awarding the 5-year oil and gas exploration permit to Lederbel BG is being contested before the Supreme Administrative Court (VAS).

In its inspection of the tender process, Bulgaria's Public Financial Inspection Agency (PFIA) identified substantial irregularities and indications of fraud.

In his statement at the first session of the Council of Ministers for 2013, Delyan Dobrev announced that he would submit a report for a new tender for the Silistar exploration block once the trial at VAS ended.

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Tags: Delyan Dobrev, Bulgarian government, oil and gas exploration, Black Sea, Supreme Administrative Court, VAS, Economy and Energy Minister, lederbel
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