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03.12.2014 17:01
Bulgarian PM: The decision for Black Sea oil and gas exploration is the bravest one
The government took its decision only two days after the Russian president announced the cancellation of South Stream

  • Boyko Borissov, Prime Minister of Bulgaria
    © Bulgarian government

The Bulgarian Prime Minister Boyko Borissov said, that the decision of the government to start tenders for exploration and production of oil and gas in two large offshore areas in the economic zone of Bulgaria in the Black Sea – Block 1-14 “Silistar” and Block 1-22 “Teres” is the bravest for this government. According to the government’s official announcement, the decision from today is corresponding to the policy for diversification of energy resources. It also comes only two days after the Russian President Vladimir Putin announced, that the project South Stream will be stopped because of Bulgaria’s position and gas will instead flow to Turkey.

The government press-service published the stenographic record of today’s discussion in the Ministerial Council. The Prime Minister, Mr. Boyko Borissov, says to his ministers, that “this is one of the bravest decisions that this Bulgarian government will take”. He also said, that his previous government “had enormous problems after its decision to give a concession in the Black Sea to Repsol, Total, and OMV”.

He adds, that the two new blocks are expected to deliver both gas and oil, which will turn Bulgaria into an energy exporter. He also said, that the real, “100% diversification”, comes not from importing gas through different routes, but through indigenous production. He ends his expose with the following words to his ministers: “When you vote now for this decision, you have to know, that we will be very temporary, because this decision will make nervous a lot our competitors in production and sales of gas in the whole region”.

TAGS: gas | oil | Teres | Silistar | Black Sea | exploration | production | Total | OMV | Repsol | South Stream 

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20.03.2022  Teodor Bobochikov, Managing Partner, V-Ridium
Energy Transformation – Trends and drivers
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