Exxon Mobil Shows Interest in Black Sea Oil Exploration Opportunity

Business » ENERGY | May 5, 2015, Tuesday // 11:26
Bulgaria: Exxon Mobil Shows Interest in Black Sea Oil Exploration Opportunity Photo: EPA/BGNES

Exploration Manager Europe and Caspian at ExxonMobil, Stacey Weltmer has stated that the company is very much interested in winning a tender for oil and shale gas exploration mission in Bulgaria.

Weltmer met with the Chair of the Energy Commission to the National Assembly and former Energy Minister Delyan Dobrev, Deputy Chair of the same commission Zhecho Stankov and Deputy Chair of the Board of Bulgratransgaz Delyan Dimitrov, as announced by the press office of center-right ruling party GERB. 

The meeting took place in the new global office of the company in Huston, Texas alongside the OTC 2015 (Offshore Technology Conference).

Weltmer stated that the company is very much interested in the opportunity for oil and gas exploration in the Black Sea blocks Teres and Silistar. As announced by Dobrev, information on the tender are already available online and the deadline is set for September 21, 2015.

Meanwhile, Deputy Chair of the energy commission to Bulgarian Parliament Zhecho Stankov informed that the duration of the contract will be 5 years and the term could be extended by 2 years.

Delyan Dimitrov of Bulgartransgaz added that Bulgaria has already started the construction of gas interconnecting pipes with neighboring Romania, Serbia, Greece and Turkey. It is thus expected that the total capacity of the gas infrastructure will reach 20 B cubic meters on an annual basis. Furthermore, the capacity of the gas storage unit in Chiren will be further expanded.

Exxon Mobil representatives stated that they will definitely be looking into the exploration opportunity as they already have experience and research available from the Black Sea region. 

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Tags: Exxon Mobil, Bulgaria, Black Sea, exploration, oil, gas, Stacey Weltmer, Delyan Dobrev, energy, Commission, parliament, Zhecho Stankov, Bulgartransgaz, Delyan Dimitrov, Teres, silistar, Chiren
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