Bulgaria to prospect for oil and gas in the Black Sea

The Government has made a decision to invite a tender procedure for issuing a permit for oil and gas prospecting and exploration in Block 1-22 Teres. The 4,032 sq km area is located in the exclusive economic zone of Bulgaria in the deep waters of the Black Sea. The prospecting and exploration permit will be for five years. In case a commercial field is found, the holder of the permit will be directly nominated concessionaire.

Details on the tender procedure, the price of tender dossiers, the required deposit for participation, etc. can be found in the Council of Ministers decision, which will be published in the Official Gazette, the website of the Ministry of Economy, Energy and Tourism and in the Official Journal of the European Union. All deadlines for the tender will be counted from the date of the publication in the EU Official Journal.

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