Bulgaria Receives No Bids for Oil, Gas Exploration Licence in Black Sea

Bulgaria Receives No Bids for Oil, Gas Exploration Licence in Black Sea

 Bulgaria cancelled a tender for awarding a licence for oil and natural gas exploration in the country’s economic zone in the Black Sea, Block 1-22 Teres, after no bidders showed up, the government said.

Seven companies purchased application papers, but none of them submitted an an offer, the government said in a statement following a regular weekly meeting.
The licence was to cover the 4,032 square kilometre Block 1-22 Teres for a period of five years.
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