Bulgaria chooses Shell for gas exploration in Black Sea Silistar area

Written by on September 29, 2015 in Business - Comments Off on Bulgaria chooses Shell for gas exploration in Black Sea Silistar area

Multinational company Shell has been chosen by Bulgaria to examine the availability of natural gas in the deep waters of the country’s Silistar block in the Black Sea, Bulgaria’s Energy Minister Temenuzhka Petkova told journalists on September 29 2015.

The first drilling for gas is expected in February 2016.

Petkova, describing Shell as one of the world leaders in the industry, said that the company had proposed a work programme worth 18.6 million euro. With the signing of the contract, the bonus that the Bulgarian state would receive in the form of money entering state coffers immediately was estimated at 4.9 million euro, she said.

This was expected to happen by the end of October. Before the project can proceed, cabinet approval is required for the minister to sign the contract.

Petkova described the deal as a “really serious success”, achieved through joint efforts.

(Photo: twitter.com/shell)

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