Total, Melrose Eye Bulgaria's Black Sea Natural Gas

Energy | July 5, 2012, Thursday // 15:50|  views

Bulgarian Economy and Energy Minister Delyan Dobrev. Photo by BGNES

Total SA and Melrose Resources Plc have submitted bids for exploration and exploitation of natural gas in the so-called "Khan Asparuh" block in Bulgarian Black Sea waters, Bulgarian Economy and Energy Minister Delyan Dobrev has announced.

The winner of the tender is expected to be selected by the end of July. A five-year exploration permit is to be awarded.

Exxon Mobil has not submitted a bid, even though it was initially expected to do so. The company is to explain its motives in a letter.

Dobrev believes it is Exxon Mobil have decided to focus their investments towards Romanian territories , for which they already have exploration permits.

In addition to the Black Sea, Bulgaria hopes to discover about 3 B cubic meters of gas (about 30% of the total needs of the country) near the village of Deventsi where the US Direct Petroleum Transatlantic is doing the exploration works.

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Tags: Direct Petroleum Transatlantic, Melrose, Total, Exxon Mobil, Romania, Deventsi, exploitation, exploration, conference, Delyan Dobrev, Economy and Energy Minister, Black Sea, oil, natural gas


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