Energy Committee Chair Urges Concession Contracts for Silistar, Teres Exploration Blocks

Valentin Nikolov, Deputy Chair of the parliamentary energy committee, has recommended signing concession contracts for exploration blocks Silistar and Teres.

In a Thursday interview for Focus radio, he underscored that exploration activities at these blocks could make Bulgaria an independent country as regards energy supplies.

Nikolov reminded that the center-right GERB government had signed a concession contract for the Han Asparuh block, where large quantities of gas were expected to be found.

He said that there was a possibility of finding oil at the Han Asparuh block too.

Nikolov argued that the oil and gas exploration activities at these sites were aimed at achieving real energy diversification, which was expected to result in lower energy prices.

He added that he would support the South Stream gas pipeline project only if there was evidence of proven economic benefits for the country.

The Bulgarian government announced on Wednesday it would start tenders for drilling and exploration at the Silistar and Teres in the country's exclusive economic zone off its coast.

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