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September 30, 2022

BP wants to lease offshore perimeters in the Black Sea

Britain’s BP will analyze all options concerning its participation in the tender for the lease of the Teres and Silistar offshore perimeters located in Bulgaria’s territorial waters, BP Exploration Director Richard Herbert stated on Wednesday during a meeting with Delian Dobrev, the chairman of the Bulgarian Parliament’s Energy Commission, and Zhecho Stankov, Bulgaria’s Deputy Energy Minister, BTA informs.

The two Bulgarian officials are currently in London where they will present at the International Petroleum Forum the oil and natural gas exploration opportunities in those two perimeters.

Delian Dobrev informed BP’s representatives that the Teres and Silistar perimeters have surfaces of 7,000 and 4,000 square kilometres respectively. In his turn, Zhecho Stankov explained that five-year exploration permits will be released after a transparent tender, with the possibility of renewing them twice for two years.

BP representatives stated that the British group started to carefully watch the Black Sea region at the start of the 1990s, considering that its geology is similar to that of the Caspian Sea region.

ExxonMobil and OMV Petrom are jointly exploring in the Black Sea the Neptun deep-sea perimeter located in Romania’s territorial waters, with preliminary estimates pointing to the existence of natural gas deposits of 42-84 billion cubic meters.



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