Bulgaria Extends Petroceltic’s Oil/Gas Exploration Permit for Galata Block

Bulgaria Extends Petroceltic’s Oil/Gas Exploration Permit for Galata Block

Bulgaria has extended a gas and oil exploration permit for Galata offshore block granted to Petroceltic until early September 2016, the government said on Wednesday.
The 411-day extension will enable Petroceltic to carry out exploration and drilling activities in the Galata Block according to its approved work schedule, the cabinet said in a statement following a weekly meeting.
Dublin-headquartered Petroceltic has a 100% operated interest in three producing gas fields and one future development in the Galata Block, which is located in the continental shelf and Bulgaria’s exclusive economic zone in the Black Sea.
 
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