site.btaBulgaria Can Save Up to Six Billion US Dollars a Year if Natural Gas and Oil Are Discovered in the Black Sea - PM Borissov

Bulgaria Can Save Up to Six Billion US Dollars a Year if Natural Gas and Oil Are Discovered in the Black Sea - PM Borissov

Bourgas, on the Black Sea, April 19 (BTA) - Prime Minister Boyko Borissov Tuesday said Bulgaria can save up to 6 billion US dollars a year if it starts extracting its own oil and gas. He was speaking at the presentation in Bourgas of the Noble Globetrotter II, the ship which will carry out the first deepwater drilling for natural gas and oil in the Khan Asparuh Bloc.

Borissov expressed a hope that oil and gas fields would be found in that bloc in the Black Sea. When the prospecting companies Total, Repsol and OMV are renting the drill ship for 220,000 euro a day, they probably know what they are doing and what they are looking for, he said.

The project is of particular importance for Bulgaria's energy diversification. It will also be very good for the region because the logistics operations will be carried out from the Port of Varna.

Noble Globetrotter II is the latest generation of drill ships owned by the US'  Noble Drilling Holding LLC. She has been operational since 2013 and has already worked in the Black Sea.

The event was attended by Deputy Prime Minister for EU funds and Economic Policy Tomislav Donchev, Energy Minister Temenouzhka Petkova, Transport, IT and Communications Minister Ivaylo Moskovski, Environment and Water Minister Ivelina Vassileva and Deputy Energy Minister Zhecho Stankov.