Bulgaria Opens Tenders for Offshore Gas and Oil Exploration

Bulgaria, eager to reduce its near total dependence on Russian gas, has opened two tenders for deepwater gas and oil exploration off its Black Sea coastline, the energy ministry said on Monday.

The Balkan country hopes to issue 5-year permits for exploratory drilling in the two blocks by the beginning of the autumn, with interested bidders expected to file their offers by Sept. 20.

"The opening of the tenders is a demonstration of the government's engagement to lower Bulgaria's dependence from imports and its aim to develop its own energy resources", the ministry said in a statement.

Initial soft tests at the two offshore blocks, Silistar and Teres, which cover an area of 7,000 and 4,000 square km respectively, as well as their proximity to a block in Romanian waters, where Austria's OMV has said it could produce up to 84 billion of cubic meters of gas, has raised Bulgaria's hopes that it will be able to diversify its gas supplies.

French Total along with OMV and Spain's Repsol are expected to start drilling for oil and gas in Bulgaria's biggest offshore block Han Asparuh in the first quarter of 2016.

Reporting by Tsvetelia Tsolova