Shell has been selected to search and explore for oil and natural gas in Block 1-26 Khan Tervel
Subject to permit award, Shell Exploration and Production (96) B.V., a subsidiary of Shell plc (“Shell”), will be exploring for oil and natural gas in Block 1-26 Khan Tervel, located in the exclusive economic zone of Bulgaria in the Black Sea. This was announced by the Minister of Energy of the Republic of Bulgaria Vladimir Malinov after the adoption of the decision at today’s meeting of the Council of Ministers. It is recalled that on 18 June 2024 the publication of the documentation in the Official Journal of the EU launched the procedure for the granting of a permit for oil and natural gas exploration in the Black Sea.
Four companies purchased the documents to participate in the tender procedure and two of them submitted offers. The winner, Shell, has been ranked on the basis of the proposed work and investment programme, the funds for the protection of the environment, the funds for the training and the proposed signature bonus for the state over a five-year period of the study. The company will also pay an annual area fee. The winning candidate's work programme provides for complex geological and geophysical works, including the conduct of new 3D seismic surveys, processing and interpretation of seismic data, assessment of the potential of the area, and others.
„The exploration for oil and natural gas in the Bulgarian economic zone in the Black Sea is key for a successful response to the challenges linked to our energy independence. The active work of the government led to the successful completion of the procedure, driving the energy security and competitiveness of the country and the region to a new level“, Energy Minister Vladimir Malinov stressed.
“I would like to thank the Ministry of Energy of the Republic of Bulgaria for the opportunity to explore the Western Black Sea. Following the permit award, we plan to acquire seismic data to better understand the subsurface. We are committed to safely execute this exploration campaign,” Eugene Okpere, Shell’s Executive Vice President for Exploration, Strategy & Portfolio said.
Block 1-26 Khan Tervel covering an area of slightly more than 4 thousand square km is located south of Block 1-21 Khan Asparuh. The decision of the Council of Ministers on the opening of a procedure for the grant of a permit for the exploration dates from 25 August 2023, however the competition is running from the 18 June 2024 when the decision was published in the Official Journal of the EU.
