Bulgaria To Award Licence for Offshore Oil, Gas Exploration

Bulgaria To Award Licence for Offshore Oil, Gas Exploration

Bulgaria has opened a procedure to award a licence for oil and natural gas exploration in the country's exclusive economic zone in the Black Sea, the government said.

The five-year licence will cover the 1,612 square metre Block 1-23 Sveta Marina, the government said in a statement following a regular weekly meeting on Wednesday.

The aim is to use next-generation geological technology to locate sites suitable for exploratory drilling, the statement said.

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