Shell Exploration and Production (96) BV, a subsidiary of Shell PLC, will explore for oil and natural gas in Block 1-26 Khan Tervel, in the exclusive economic zone of Bulgaria in the Black Sea.
The block award was noted by the Minister of Energy of the Republic of Bulgaria, Vladimir Malinov, after the adoption of the decision a Dec. 11 meeting of the Council of Ministers.
Block 1-26 Khan Tervel covers slightly more than 4,000 sq km south of Block 1-21 Khan Asparuh. Shell will conduct geological and geophysical studies, including new 3D seismic surveys, and will process and interpret the data, along with an assessment of the area's potential, the Ministry of Energy said in a release Dec. 11.
Shell won the permit award based on the proposed work and investment program, funding for protection of the environment, funding for training, and the proposed signature bonus for the state over a 5-year period of the study, the Ministry said. Shell will also pay an annual area fee.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
