France’s Total Wins Tender for Deepwater Gas Drilling off Bulgarian Coast

France’s Total Wins Tender for Deepwater Gas Drilling off Bulgarian Coast

Bulgaria has picked France's Total for the exploration of a deepwater gas field off the country's Black Sea coast, the Bulgarian energy ministry said.

Total will work together with Austria's OMV and Spain's Repsol, the ministry said in a statement on Thursday.

The only other competing bid in the tender was filed by UK-based Melrose Resources.

The 14,440 square kilometer Khan Asparuh block adjoins Bulgaria's northern border with Romania, where significant deposits of natural gas, estimated between 40 billion and 80 billion cubic metres, were recently discovered.

Bulgaria expects the exploration of the Khan Asparuh block to contribute to the diversification of its natural gas supply and to help negotiate lower prices for gas deliveries from its main supplier, Russia's Gazprom. At present, the price of domestic gas supply is 40% lower than those of imports, the statement quoted energy minister Delyan Dobrev as saying.

Over the past few years, Bulgaria has been extracting natural gas from two Black Sea deposits, at Kaliakra and Kavarna, which despite their modest volume of 443 million cubic metres last year, covered 15% of domestic consumption.

Previous Next
Test Caption
Test Description goes like this
Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.