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Bulgaria receives no bids for oil, gas exploration licence in Black Sea

Author Dena Popova
Bulgaria receives no bids for oil, gas exploration licence in Black Sea

SOFIA (Bulgaria), 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.

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