Bulgaria Govt OKs Oil, Gas Exploration Tender for Northwest

The cabinet has approved plans to launch a tender for oil and gas exploration in Northwestern Bulgaria, the country's poorest region.

A block located in the region of Vratsa will be open to exploration due to "interest from investors", the government has announced.

A permit will be granted for a company to look for oil and gas within "Block 1-25 Vratsa-zapad" for a period of five years, with the right to extend activities twice for a period of two years.

Assessment of offers will be made in accordance with employment, environment, training and other measures proposed with regard to the project.

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