Dutch-based Shell
Exploration and
Production was chosen to
explore for oil and gas
in Bulgaria's 1-14
Silistar block in the
Black Sea, the country's
energy ministry said on
Tuesday.Shell will
invest18.6 million euro
($20.98 million) in
exploration works, plus
a 4.9 million euro bonus
it will pay the state
upon signing the
contract, the ministry
said in a press release.
The contract is expected
to be signed one month
after the government
approves it, the
ministry added.
The Silistar block
covers an area of 6,893
sq km.
The energy's ministry
decision comes after in
April it opened a tender
for oil and gas
exploration in two Black
Sea blocks - 1-14
Silistar and 1-22 Teres.
The oil and gas
exploration permits will
have a five-year term,
the energy ministry said
at the time, adding that
it 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.
Earlier on Tuesday
Sofia-based business
daily Capital Daily
reported, quoting energy
minister Temenuzhka
Petkova, that Shell was
the only candidate to
file a bid in the tender
for the 1-14 Silistar
block and that no bids
were filed for the 1-22
Teres block.
S
ource:
SeeNews