Shell to explore offshore Bulgaria

According to Reuters, Royal Dutch Shell has been selected to carry out deepwater oil and gas exploration in offshore Bulgaria. It is expected that the company will sign a contract by the end of October.

The Balkan country is nearly entirely dependent on Russian gas, and it is hoped that this contract with Shell will reduce the reliance upon Russian imports. In April the country opened tenders for two offshore blocs: Silistar and Teres, and Shell has announced plans to invest €18.6 million in seismic surveys of the block.

Energy Minister, Temenuzhka Petkova, told reporters: “This is a very serious success for us and one for the most important steps towards diversifying our gas supplies.”

Edited by

Sources: Reuters

Published on 29/09/2015

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