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12.07.2012 16:19
Total Wins Deepwater Gas Drilling in Bulgaria
The French group plans to work with Austria's OMV and Spain's Repsol

  • © Bulgarian Ministry of Economy, Energy and Tourism
  • Announcement of the results from the tender
    © Bulgarian Ministry of Economy, Energy and Tourism

Bulgaria has chosen French oil major Total to carry out exploration works at a deepwater gas field off the country's Black Sea coast, near a site in Romanian waters where a successful gas discovery was made, officials said on Thursday, as reported by Reuters.
Total won the tender to carry out exploration for five years at Khan Asparuh field over British-based Melrose Resources . The French group plans to work with Austria's OMV and Spain's Repsol.
“Our participation in the tender is an expression of Total’s commitment to exploration of high-risk fields difficult to explore, which however have a great potential”, Michael Borrell, vice-president of Total responsible for production and commerce in Europe, said.
The Balkan country, almost fully dependent on Russian natural gas supplies, is seeking ways to diversify its gas routes and sources to cuts costs and boost its energy security.
"This means a real diversification ... It will help us decrease gas prices and will help us during negotiations for the purchase of gas (with Russia's Gazprom)," PM Boiko Borisov said.
U.S. operator Exxon Mobil, which had already announced a huge gas find at an offshore Black Sea well in Romanian waters together with OMV, had filed an initial offer, but later withdrew from the tender.
Bulgaria's Economy and Energy Minister Delyan Dobrev has said that gas production could start within three to four years, provided that the exploration activities point to substantial gas reserves.
The 15,000 sq km Khan Asparuh block is only 15km from OMV's Neptun block, which the Austrian company has said could produce up to 84 billion cubic metres of gas.

TAGS: Bulgaria | Black Sea | gas | Total | OMV | Repsol | ttender | gas drill | Melrose Resources | Exxon Mobil 

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