Bulgaria Invites Bids for 5-Year Oil, Gas Exploration Permit for Tervel Offshore Block

Bulgaria Invites Bids for 5-Year Oil, Gas Exploration Permit for Tervel Offshore Block

Bulgaria's government said on Wednesday that it will open a procedure for awarding a five-year oil and gas exploration permit for Block 1-26 Tervel, in the country's sector of the Black Sea.The winner will be required to carry out 2D and 3D seismic surveys, identify potential drilling targets through geological mapping, and carry out drilling if such targets are found, the government said in a statement following its weekly meeting.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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