October 20 (SeeNews) - Shell Exploration and Production, a subsidiary of Royal Dutch Shell, started drilling for oil and gas in a Bulgarian block in the Black Sea last week, the energy ministry announced on Thursday.
Shell started seismic exploration in offshore block 1-14 Silistar, according to a presentation prepared by the ministry and shown at the Black Sea Oil and Gas conference taking place in Sofia.
In February, the energy ministry said that Royal Dutch Shell signed a five-year term contract for exploration for oil and gas in the Silistar block. The company will pay the government 4.9 million euro (excluding VAT) and committed to invest 18.6 million euro ($20.45 million) in research activities.
Bulgaria's 1-14 Silistar block spreads on an area of 6,893 sq km in the Black Sea.
($= 0.9156 euro)