Bulgaria to grant concession on Deventsi gas deposit by end-October

The gas extracted from the Deventsi deposit, in northern Bulgaria, will increase the share of domestic production in Bulgaria's total gas consumption to 25% from 15% at present, Dobrev told reporters over the weekend.

Direct Petroleum Bulgaria, a subsidiary of Texas-based TransAtlantic Petroleum, is managing the deposit, which is expected to yield between 300 million and 1 billion cubic metres of gas per year. The company has so far invested over $70 million (54.2 million euro) in the project.

($ = 0.7738 euro)