Bulgaria cancels tender for oil, gas exploration in Black Sea offshore block

Bulgaria cancels tender for oil, gas exploration in Black Sea offshore block

Bulgaria's government said that it decided to cancel a tender for natural gas and petroleum exploration in Block 1-26 Tervel, in the Black Sea.

No candidates expressed interest in the project by the deadline for submitting offers, the government said in a statement published after its weekly meeting on Wednesday.

The tender procedure for awarding a five-year oil and gas exploration permit for Block 1-26 Tervel was launched in August 2019.

Block 1-26 Tervel, spreading on 4,032 sq km, is part of the larger exploration block Burgas - Deep Sea.

U.S.-based Vintage Petroleum International carried out exploration works at the block between 2002 and 2008 but did not drill any exploration wells.

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