At a ceremony held at the Council of Ministers, Bulgarian Prime Minister Rosen Zhelyazkov signed an agreement for the exploration and search for oil and natural gas in Block 1-26 Han Tervel. On this occasion, the Prime Minister emphasized that Bulgaria is positioning itself among the countries actively developing the untapped natural potential of the Black Sea seabed.
He added that this exploration effort contributes to both national and European energy security, as well as to the diversification of energy sources.
The exploration will involve the application of cutting-edge technologies, including supercomputers and artificial intelligence. The Prime Minister noted that Shell’s involvement in the project indicates the tremendous potential for the development of Bulgaria’s own energy reserves.
Zhecho Stankov, Bulgaria’s Minister of Energy, stated that these exploration efforts in the Black Sea represent another important step toward unlocking the country’s domestic exploitation potential.
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The Minister emphasized that this will contribute to achieving the country’s energy independence—one of the government’s key priorities—and added that a direct benefit for Bulgarian citizens would be that, in the event of discovery, up to 30 percent of the revenue would remain with the state through concession fees.
Shell stated that their priority is to carry out operations safely and in full compliance with Bulgarian legislation.
„Shell Exploration & Production’s work program includes comprehensive geological and geophysical activities, including new 3D seismic surveys, seismic data processing and interpretation, area potential assessment, and other activities”, according to the website of the Bulgarian Ministry of Energy.
Through financial support, Shell will also provide educational programs to offer additional training for Bulgarian experts in oil and natural gas exploration and production.
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