Media: Royal Dutch Shell signed a contract for exploration of oil and gas off the coast of Bulgaria

NEW YORK, February 23. /Corr. Alexey Kachalin/. Royal Dutch Shell has signed an exploration contract for five years of oil and gas in the block “Silistar” in the deep part of the Black sea coast of Bulgaria. As reported by the business news Agency Bloomberg, this contract will allow Sofia to be less dependent on Russian energy supplies.

Royal Dutch Shell plans to invest €18.6 million ($20.5 million), leads the Agency data that is voiced in conversation with journalists in Sofia, the country’s energy Minister Petkov Temenujka. According to her, the contract includes two options to extend the contract for two years each.

“The whole process can be very long and fraught with a significant degree of uncertainty”, – quotes Agency the Vice-President Shell International Exploration Eileen Wilkinson, who oversees the company developing gas reserves in the middle East and North Africa. “Before you begin the exploration, we will need to obtain the necessary authorizations concerning the regulatory framework and the environment”, she added.

In September of last year, according to the Minister of energy Temenuzhka Petkova, “proposed by the company, the working program includes 2-D and 3-D seismic surveys, as well as measures for the protection of nature and cultural values”. The President of Bulgaria noted that the Shell knows well the black sea region and is a recognized leader in deep-water research and production, and has implemented more than 20 deep-water projects for oil and gas. The company in this market more than 100 years, and its offices are located in 70 countries.

Exploration of its oil fields was one of the first decisions of the new Bulgarian government, which intends in the future to ensure energy security and independence from external suppliers.