April 22 (SeeNews) - Bulgaria's government said on Wednesday that it has extended the term of its concession agreement for the Dolni Lukovit crude oil and natural gas deposit with local company Oil and Gas Exploration and Production [BUL:4O1] by 15 years.
The company requested the extension of the agreement as there are still significant quantities of crude oil and natural gas at the deposit, the government said in a statement.
The concession agreement was signed in 2003 for an 18-year period.
Oil and Gas Exploration and Production is a subsidiary of local group Chimimport [BUL:6C4].