Bulgaria Grants Total, OMV, Repsol Extension of Oil, Gas Exploration Permit for 1-21 Han Asparuh Block

Bulgaria Grants Total, OMV, Repsol Extension of Oil, Gas Exploration Permit for 1-21 Han Asparuh Block

Bulgaria's government said on Wednesday that it accepted a request by France's Total, Austria’s OMV and Spain’s Repsol to extend by 109 days the permit held by the three companies for exploring for oil and natural gas in the 1-21 Han Asparuh offshore block in the Black Sea.
The extension is a result of a force majeure event, the government said in a statement, without giving further details about the event.
The government authorised energy minister Temenuzhka Petkova to sign an annex to the contract with the three companies within one month.
Their permit is due to expire in January 2020.
Total has a 40% interest in the project, while OMV and Repsol own stakes of 30% each.
The 1-21 Han Asparuh block is located deep offshore in the Bulgarian sector in the western part of the Black Sea and covers an area of 14,220 sq km with water depths up to 2,200 m.
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