Earthquake Measuring 5.2 Hits Black Sea, Felt in Bulgarian City
A strong earthquake measuring 5.2 on the Richter scale occurred in the Black Sea, and it was felt in the Bulgarian city of Dobrich
Bulgaria to Grant 6-Year Concession for Kavarna Iztok Gas Field
- Tweet
Send to Kindle
Photo by Sofia Photo Agency
The Bulgarian government will grant British Melrose Resources a 6-year concession for natural gas extraction at the Kavarna Iztok field, according to the Council Of Ministers' press office.
The decision is to be taken at a Cabinet meeting on Wednesday.
The gas field is located in Bulgaria's Black Sea continental shelf and the exclusive economic zone and has a total area of 3.97 square kilometers.
According to preliminary estimates, the move is expected to bring concession fee revenues of around USD 1.1 M per year.
The Kavarna Iztok field will become the third field developed by Melrose Resources in Bulgarian Black Sea waters.
The company is already extracting natural gas from the Kaliakra and Kavarna fields, the production covering around 15% of the country's natural gas consumption.
Related Articles:
Bulgaria's Summer Tourism Stable with 1.2 Million Visitors on the Southern Black Sea Coast, British Tourists Lead
A total of 1.2 million foreign tourists visited Bulgaria's Southern Black Sea coast during this summer season
US Bomber Aircraft Arrive in Black Sea Region (VIDEO)
For the first time, US strategic bomber aircraft have deployed to Romania
Bulgaria: Decline in Black Sea Tourism Noted Compared to Last Year
Stanko Shterev, regional representative of the Bulgarian Tourism Association, noted a decline in tourist numbers along the Black Sea coast
Bulgaria Turns to Foreign Workers as Domestic Labor Crisis Deepens
Sixty percent of businesses in Bulgaria are struggling due to a shortage of manpower
Bulgaria's Coastal Crisis: Fishermen Face Empty Nets as Fish Retreat from Extreme Heat
Record high temperatures have driven fish into the deeper waters of the Black Sea
Mayor Assures Sofia Residents: No Risks for Heating Season
Sofia's Mayor Vasil Terziev reassured residents that there are no risks for the upcoming heating season after a meeting with Energy Minister Vladimir Malinov
Fuel Prices in Bulgaria Likely to Rise Slightly Amid Middle East Tensions
There may be challenges ahead for oil prices if the situation in the Middle East escalates into a regional conflict
Fewer Households in Bulgaria Use Wood for Heating as Prices Rise and Supply Wanes
Fewer households in Bulgaria are relying on wood for heating
For Bulgaria: First Tanker of Liquefied Gas Unloaded at New Alexandroupolis Terminal
The first tanker carrying liquefied gas for Bulgaria is currently being unloaded at the new regasification terminal in Alexandroupolis
Bulgargaz Blocks Accounts of Toplofikatsia Sofia Amid Ongoing Debt Crisis
Bulgaria's state gas supply company, "Bulgargaz," has once again blocked all accounts belonging to the municipal heating company, "Toplofikatsia Sofia"
October Natural Gas Prices Announced in Bulgaria, Slight Increase Observed
Bulgaria's Energy and Water Regulation Commission (EWRC) has announced that the price of natural gas for October will be set at 63.72 leva per MWh
