Irish firm granted oil exploration licences in Bulgaria after court battle

Written by on September 20, 2012 in Bulgaria, Business, News - No comments

Dublin-based Moesia Oil and Gas, an independent oil and gas prospector, was awarded four exploration licences in Bulgaria after winning court cases against the Bulgarian Government.

Bulgaria’s Cabinet decided in April 2010 to suspend six licences awarded to the firm, arguing that the offers were incorrectly judged during the tender procedure. Moesia Oil and Gas filed lawsuits with the country’s Supreme Judiciary Court and won.

As a consequence, the Cabinet has now re-issued the licences for Botevo 1-10 block, Devetaki 1-5 block, Turnak 1-7 block and Mizia 1-9 block. A decision on the other two suspended licences, for Altimir 1-8 block and Pelovo 1-6 block, was not announced.

Moesia Oil and Gas envisions investing 9.3 million euro over a period of five years, the Cabinet’s media service said in a statement.

(Photo: Patrick Moore/sxc.hu)

Comments

comments

About the Author

The Sofia Globe - Bulgaria’s fully independent English-language news and features website, run by an all-expatriate team. Sign up to subscribe to sofiaglobe.com's daily bulletin by using the form on the homepage of our website. Please click to support our advertisers!