1st Oil, Gas Exploration Launched in Southern Bulgaria

Business » ENERGY | September 2, 2012, Sunday // 13:47
1st Oil, Gas Exploration Launched in Southern Bulgaria: 1st Oil, Gas Exploration Launched in Southern Bulgaria The Minister of Energy and Economy, Delyan Dobrev, is hopeful southern Bulgaria can have large oil and natural gas deposits. Photo by BGNES

The first ever exploration of possible natural gas and oil deposits in Southern Bulgaria has been launched.

The announcement was made Sunday by the Minister of Energy and Economy, Delyan Dobrev, who said that Block 1-18 Trakiya, including the municipalities of Svilengrad, Madzharovo, Haskovo, and Lyubimets, is the first one to be studied.

The terrain is part of the so-called oil-gas basin on the territories of Bulgaria, Greece and Turkey, with 24 gas and 3 oil deposits already discovered in Turkey, according to Dobrev.

He voices hope the geological structure in Bulgaria near the Turkish border is the same thus the possibility of finding gas and oil there, but adds it would be too early to give any assessments about the potential of the Block.

The exploration is expected to last 2 years with the cost of EUR 7 M for the concessionaire. The studied depth is estimated at 1 500 meters. The process will be conducted with special trucks using the vibration method to determine the rock structure, eliminating the need of drilling.

The method is safe for the soil and the environment.

If the exploration ends up being successful, the extraction can begin in 4 years the earliest.

Currently, Bulgaria consumes about 3 B cubic meters of natural gas a year with only 10% of them coming from local deposits.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: oil-gas basin, turkey, greece, Trakiya, Block-18, concessionaire, deposits, natural gas, southern Bulgaria oil, Delyan Dobrev, Minister of Energy and Economy, exploration
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria