Gas Exploration Drills to Start in Bulgaria's Black Sea in April

Business » ENERGY | March 22, 2016, Tuesday // 20:12
Bulgaria: Gas Exploration Drills to Start in Bulgaria's Black Sea in April Chairperson of the parliamentar energy commitee Delyan Dobrev. Photo: BGNES

Natural gas exploration drills in Bulgaria's Khan Asparuh block in the Black Sea are expected to begin in April.

This was stated by the chairperson of the parliamentary energy committee Delyan Dobrev on Tuesday, Darik radio quotes him as saying.

Dobrev said that the expectations are for the exploration platform to become available by the middle of April and the first drill to be conducted within a month.

He said this during his participation in a forum entitled “Liberalisation of the energy market and the new trends in the sector” held in Sofia on Tuesday.

Dobrev reminded that the contract on the exploration of the block was signed back in 2012 and since then the largest 2D and 3D seismic studies in the Black Sea have been carried out there.

He added that two exploration drills are forthcoming, with one of them to begin in the next month and to last for about three months.

In his words, Bulgarian hopes are not unfounded as fifteen kilometres away from the Bulgarian border a considerable discovery has been made.

Dobrev thinks that there is no better way to achieve diversification and ensure energy security than to develop the country's own gas resources.

According to him, however, extraction will not begin within the first three years as this type of projects have long period of realisation.

It is likely that further drills might have to be conducted and a final investment decision will have to be reached.

Dobrev noted that at present Bulgaria is dependent on a single gas supplier for more than 95 % of its gas supplies.

Gas extracted from own deposits this year is expected to be less than 100 million cubic metres, while Bulgaria's consumption exceeds 3 billion cubic metres.

He added that there is need to invest in infrastructure.

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Tags: Bulgaria, gas, Khan Asparuh, Black Sea, exploration, extraction, drill, Delyan Dobrev, energy, diversification
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