The procedure for the search and exploration of oil and natural gas in Block 1-26 Khan Tervel is published in the Official Gazette

Energy / Bulgaria
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In the "Official Gazette" of the European Union, a decision has been published to open proceedings for the granting of a permit for the search and exploration of oil and natural gas in the "Block 1-26 Khan Tervel" area. The sea area is located in the exclusive economic zone of the Republic of Bulgaria in the Black Sea, through absent competition. This was announced today by the Ministry of Energy.

Although the decision of the Council of Ministers to open a tender procedure is from August 25, 2023, the absentee tender is only now being launched. Potential applicants can purchase tender documents until the 120th day from the publication of the decision in the "Official Journal" of the EU, submit applications for participation until the 140th day and submit proposals until the 155th day from today's date. Applicants' proposals will be evaluated according to the research work programs, environmental protection funds and others. The permit will be granted for a period of five years, with the right to two extensions of up to two years each. "Block 1-26 Khan Tervel" has an area of ​​just over 4 thousand square km. and is currently poorly studied.

"Expansion of research in the Black Sea will contribute to the development of own extraction, which is of strategic importance for guaranteeing the security of the country through the diversification of energy sources," stressed Energy Minister Vladimir Malinov. In his words, the development of a local deposit will ensure both energy independence of the country and contribute to increasing the competitiveness of the economy.

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