July 24 (SeeNews) - Bulgaria cancelled the tender for awarding a licence for oil and natural gas exploration in the country’s economic zone in the Black Sea, Block 1-22 Teres, due to lack of any bidders, the government said on Wednesday.
Seven companies purchased application papers, but none of them submitted an an offer, the government said in a statement following a regular weekly meeting.
The licence was to cover the 4,032 square kilometre Block 1-22 Teres for a period of five years.