Total Seeks Drilling Company for Black Sea Gas Exploration

The Bulgarian branch of French petrol company Total announced a public tender for exploration drilling in the Khan Asparuh gas field off the Bulgarian Black Sea coast. 

The expected price of the drilling is around BGN 100 M, reports Capital daily. 

The estimated gas deposits in the Khan Asparuh field are between 42 and 84 B cubic meters of gas. 

The previous exploration stage ended earlier this year and now Total is seeking a supplier of two drilling platforms and equipment. The sea depth in the area is around 2000 meters and the drilling is expected to reach 7000 meters. 

The requirements for the bidders in the public tender are to have a turnover of USD 750 M in the previous three years and to have completed at least one contract for sea drilling with similar parameters. The deadline for bids is July 14, 2014. 

In 2012 a consortium of Total, OMV and Repsol signed a contract with the Bulgarian state for exploration of one of the most perspective gas fields in the Black Sea and paid an advance of EUR 40 M.

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