Bulgaria Endorses Transfer of 30% Interest in Offshore Block from Shell to Woodside Energy

Bulgaria Endorses Transfer of 30% Interest in Offshore Block from Shell to Woodside Energy

Bulgaria's government said that it has approved the transfer of 30% of the exploration rights on offshore Block 1-14 Khan Kubrat to the local branch of Australia's Woodside Energy from the current sole holder, Shell International Exploration and Development Italia. The government has mandated energy minister Temenuzhka Petkova to sign an additional agreement with the two companies for the transfer of the 30% interest, it said in a statement following its weekly meeting. In August, Woodside Energy said that it has entered into a farm-in agreement with Shell International Exploration and Development Italia to acquire a 30% non-operated participating interest in Block 1-14 Khan Kubrat, in the Bulgarian sector of the Black Sea."This opportunity targets an emerging oil and gas province close to existing infrastructure and markets," Woodside Energy said in its interim financial report. Planning is in progress to drill an exploration well in the second quarter of 2019, Woodside Energy also said. In January, Shell successfully completed a comprehensive geophysical survey in the Khan Kubrat licence area and said it expected to start an exploration drilling programme in late 2018 or early 2019.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.