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Bulgarian offshore oil, gas exploration tender attracts no offers

Bulgarian offshore oil, gas exploration tender attracts no offers Author: Shell. Licence: All rights reserved.

SOFIA (Bulgaria), January 11 (SeeNews) – A tender for oil and gas exploration in Teres block in Bulgaria’s exclusive economic zone in the Black Sea failed to attract any offers, the Bulgarian government said on Wednesday.

Several companies bought tender documents but none of them submitted an offer within the relevant deadlines, the government said in a press release.

The tender for a 5-year permit for oil and gas exploration in the 4,032 sq km Teres block opened in December 2014. Candidates had to pay an annual fee of 161,280 levs ($86,750/82,460).

This is the second time that the tender for Teres block is being cancelled, after in 2013 it failed to attract any offers. 

Diversifying energy supplies is a strategic goal for the Bulgarian government as the country imports about 90% of the natural gas it needs from Russia through a pipeline crossing the territories of Ukraine, Moldova and Romania.

In October France’s Total said it has discovered oil in another Bulgarian offshore block in the Black Sea, the 1-21 Han Asparuh block which covers 14,220 sq m.

Earlier that month, the energy ministry said that Shell Exploration and Production, a subsidiary of Royal Dutch Shell, has started exploration for oil and gas in another Bulgarian block in the Black Sea. In February, Royal Dutch Shell signed a contract for exploration for oil and gas in the 1-14 Silistar block, which covers an area of 6,893 sq km in the Black Sea.

(1 euro = 1.95583 levs)


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