site.btaCabinet Issues Permit for Oil, Gas Exploration in Black Sea to Shell

The Council of Ministers has decided to grant permission for oil and gas exploration in the Black Sea, caretaker Minister of Energy Vladimir Malinov said during a Cabinet briefing here on Wednesday. The permit was granted to Shell Exploration & Production after a tender. The term of the contract is five years.

The Minister was hopeful that natural gas deposits will be discovered, as they can be of great importance for the Bulgarian economy.