Bulgaria Govt, Shell to Sign Gas Exploration Agreement
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Bulgaria and Shell are set to sign an agreement for offshore gas exploration on Tuesday, the government has announced.
Energy Minister Temenuzhka Petkova and Shell Exploration&Production BV Eileen Wilkinson with take part in the ceremony that is due on Tuesday morning at the Council of Ministers.
Prime Minister Boyko Borisov has also been invited to attend.
The document will allow Shell to explore for gas the Silistar 1-14 blocks, in the country's territorial Black Sea waters.
Previous government statements reveal the permit is being granted for five years.
Petkova told the Bulgarian National Radio on Monday the contract would bring EUR 4.9 M in revenues to the budget.
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