November 2 (SeeNews) - Bulgaria's government said on Wednesday it has extended by two years the permit for oil and gas exploration granted to local company Prouchvane i Dobiv na Neft i Gaz in block 1-17 Ovcha Mogila near the city of Veliko Tarnovo, in the country's north.
The extension was requested by the company due to the existence of several positive structures which suggest oil and gas accumulations, the government's press office said in a statement.
Prouchvane i Dobiv na Neft i Ga started exploration works at block 1-17 Ovcha Mogila in 2010.
Diversifying energy supplies is a strategic goal for Bulgaria's government. The country imports about 90% of the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.