Bulgaria President Invites SKorea Companies for Oil, Gas Exploration

Bulgarian President Rosen Plevneliev has invited Korean companies to look for oil and gas exploration in the Black Sea.

A section of a statement to the media following Plevneliev's meeting with counterpart Park Geun-hye in South Korea on Thursday contains the invitation relating to the Teres and Silistar blocks in Bulgaria's territorial waters, according to a correspondent for the BGNES wire service.

The government says significant oil and gas deposits are stored beneath the seabed in the respective blocks off Bulgaria's northern coast. 

Drilling for gas at another block, the Khan Asparuh, is to begin early next year.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!