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Procedure for oil and gas exploration in "Khan Tervel" block opens

Photo: maritime.bg

The Council of Ministers opens a tender procedure for the search and exploration of oil and natural gas in the area "Block 1-26 Khan Tervel", located in the exclusive economic zone of Bulgaria in the Black Sea.

The area is over 4,000 square kilometers in size and permission will be granted for 5-year long exploration, with the right to three extensions of two years each. Potential bidders are required to have generated at least €150 million in net sales revenue in total over the past three financial years.



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