The Bulgarian Ministry of Energy awarded Shell E&P a permit for deepwater exploration of oil and natural gas in Blocks 1-14 Silistar in the Black Sea, according to Energy Minister Temenuzhka Petkova.
 |
|
Image from Shell. |
Shell will invest US$20.9 million, VAT excluded, in the exploration and will pay the state a bonus of $5.5 million, without VAT, upon signing the contract for prospecting and exploration. The company’s proposed working program includes 2D and 3D seismic studies, as well as measures for the protection of the environment, the human health and the cultural values.
Shell is quite familiar with the Black Sea region, since it has recently conducted a deepwater exploration drilling in a Turkish block in the Western Black Sea, the ministry said.
The contract for prospecting and exploration is to be signed within a month, after the government has given its approval and authorization to the Energy Minister to conclude the contract.
The launch of the tenders for prospecting and exploration in the deepwater Black Sea has been one of the first decisions of the government in the energy sector. The exploration of block Silistar is part of the increase in indigenous yield that represents one of the primary conditions for ensuring energy security and independence. The exploration of block Khan Asparuh, which was contracted in 2012, is at very advanced stage and the first exploratory drilling is scheduled for early next year.
Subscribe
