Melrose to be extracting gas from Kavarna East deposit after EIA

The Council of Ministers granted a 6-year concession to the Scottish company Melrose Resources for the extraction of natural gas from the Kavarna East deposit in the Black Sea shelf. The decision was published in the Official Gazette on Tuesday and will take effect after approval of the environmental impact assessment (EIA), expected to be made by the Ministry of Environment and Water.

The royalties to be paid are set as a percentage of total proceeds of the concessionaire and the technical parameters are specified in the contract. A change is projected in case the quantity of extracted gas exceeds 500,000 cu m per day.

The gas field covers nearly 4 sq km and is based on the commercial discovery of gas deposits granted to Melrose in June 2011.

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