Bulgaria: Total Wins Bid to Explore Black Sea Gas Field

Bulgaria has awarded to Total SA, a permit for the exploration and development of the Khan Asparuh block located in the Black Sea.

Economy and Energy Minister Delyan Dobrev announced the award for the block, which according to preliminary assessments may contain 500 billion cubic meters of natural gas.

Total SA, ExxonMobil and Melrose Resources Plc., were reported to have submitted bids for block which spans 15 000 square kilometers in Bulgaria's Black Sea waters.

"We assessed the offers quickly – the best one was submitted by the Total company, which will work with OMV and Repsol," Dobrev told reporters.

The discovery of a major gasfield off Romania’s Black Sea coast back in February attracted attention to th epotential of Black Sea gas resources. Preliminary estimates range from 42 to 84 billion cubic metres, according to OMV, which discovered the field along with ExxonMobil – a major find for Romania, and now the subject of talks with Bulgaria since part of the field lies in disputed waters.

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