Bulgaria has opened tenders for oil and gas
exploration in blocks 1-14 Silistar and 1-22 Teres in the continental shelf and
the country's exclusive economic zone in the Black Sea, the country's energy
ministry said on Monday.
The oil and gas exploration permits will have a
five-year term, the energy ministry said in a press release.
The tenders
are open to both companies and tie-ups.
The Silistar block covers an area
of 6,893 sq km while the Teres block has an area of 4,032 sq km.
Bids can
be filed within 155 days.
The Bulgarian government expects the tenders to
attract the interest of industry majors considering thatFrance's Total,
Austria's OMV and Spain's Repsol are already exploring the nearby Han Asparuh
block, the ministry said.
In the 2002-2007 period U.S.-based Vintage
Petroleum International conducted limited exploration in the two blocks in
compliance with a permit it had been granted.
In 2013, the government
cancelled a tender to grant a permit for oil and gas exploration in the 1-22
Teres block after it failed to attract any bidders.
The decision to call
the two tenders is in line with the government's policy to ensure the
diversification of energy supplies.