Bulgaria Launches Tenders for Oil, Gas Exploration Rights at Silistar, Teres Blocks

Bulgaria Launches Tenders for Oil, Gas Exploration Rights at Silistar, Teres Blocks

The tenders for oil and natural gas exploration rights for Block 1-14 Silistar and Block 1-22 Teres, two exploration blocks located in Bulgaria's Black Sea continental shelf and exclusive economic zone, are underway.
The announcements were published in the Official Journal of the European Union on April 18.
The licenses for prospecting and/or exploration of oil and natural gas will be awarded for 5-year periods.
The applicant-merchant or at least one of the participants in the applicant-corporation should have generated total net income of sales for the last 3 financial years, depending on the date on which it was established, not less than 150 000 000 euros.
The applicants’ proposals for the competition shall be assessed on the basis of the proposed working programmes, resources for environmental protection and bonuses as provided for in the competition dossier, according to the Energy Ministry.
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