Shell to explore for oil and natural gas in Bulgaria’s Block 1-14 Silistar

13.10.2015

Shell Exploration and Production (LIX) B.V. will explore for oil and natural gas in Block 1-14 Silistar, which is located in the Bulgarian exclusive economic zone in the Black Sea. 

"Shell" will invest in the drill 18.6 MEUR (excl. VAT) and pay to the state 4.9 MEUR (excl. VAT) at the time of signature of the contract for prospecting and exploration. The work program proposed by the company includes 2-D and 3-D seismic surveys, as well as measures to protect the environment, human health, and cultural values. The authorization for prospecting and exploration is granted for a period of 5 years. 

The launch of tenders for prospecting and exploration in deep Black Sea was one of the first decisions of the Government in the energy area. 

Source: Bulgarian Government