SOFIA (Bulgaria), June 11 (SeeNews) – The Bulgarian government said on Wednesday it has granted local company Oil and Gas Exploration and Production [BUL:401] a 35-year concession to extract oil and natural gas in the Iskar-Zapad area near the town of Pleven, in northern Bulgaria.
For the full term of the concession, Oil and Gas Exploration and Production (OGEP) is expected to pay over 74 million levs ($52 million/38 million euro) in concession fees, as its investments will exceed 44 million levs, the government said in a press release.
(1 euro = 1.95583 Bulgarian levs)