Oil, Gas Explorations in Black Sea to Begin in February 2016 – Bulgarian PM

Business » ENERGY | August 15, 2015, Saturday // 16:57
Bulgaria: Oil, Gas Explorations in Black Sea to Begin in February 2016 – Bulgarian PM Bulgarian Prime Minister Boyko Borisov. Photo: Bulgarian News Agency

Bulgarian Prime Minister Boyko Borisov announced on Saturday that the oil and gas explorations in the continental shelf of the Black Sea will begin in February next year.

Borisov said that if his first government had not been forced to resign in 2013, the exploration of the Khan Asparuh field would have started by now.

According to him, the first move of the government of Prime Minister Plamen Oresharski, which succeeded the first Borisov Cabinet, was to stop the concessions for the Teres and Silistar fields.

In his words, each year Bulgaria spends USD 6.7 B on the import of hydrocarbons, while the country's vast reserves remained unexploited.

Borisov pointed to the successful example of Romania, which has already developed its Black Sea shelf and imported only 10 % of its fuels.

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Tags: Bulgaria, oil, gas, exploration, Black Sea, continental shelf, Khan Asparuh, Teres, silistar, Boyko Borisov, Plamen Oresharski, Romania
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