Bulgaria opens new tenders for Black Sea offshore oil and gas exploration

Bulgaria has opened new tenders to award five-year exploration licences for the Teres 1-22 and Silistar 1-14 offshore blocks on the Bulgarian Black Sea shelf, the country’s Energy Ministry said in a statement.

The official tender notice was published in the Official Journal of the European Union on April 18. Bids were due no later than 155 days after the publication of the notice, the ministry said, which would make the deadline for bids is on September 20.

Prospective bidders, whether individual companies or consortiums, must have had at least 150 million euro in sales revenues over the past three years, and their bids would be assessed on both their proposed drilling plans and bonuses, as well as the financial commitments towards environmental protection, the ministry said.

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