The oil company “Shell“ and the Bulgarian state signed today at an official ceremony at the Council of Ministers a contract for the exploration and search for oil and natural gas in the Bulgarian waters of the Black Sea.
Energy Minister Zhecho Stankov indicated that with this move, Bulgaria is taking another step towards discovering the potential of the Black Sea for future gas supplies.
The gas that is discovered in the offshore areas of the Black Sea will be the cheapest gas. When Bulgaria supplies gas through gas pipelines, up to 30% of the price comes from transit fees. Additionally, with the search and exploration of future deposits on the territory, our state will also receive concession payments, which can reach up to 30%, i.e. every third gas molecule will enter the state budget as a value, explained Minister Stankov, quoted by novini.bg.
For his part, Prime Minister Rosen Zhelyazkov noted that this contract has great political significance, because in his words, Bulgaria is among the countries of the Black Sea basin that are developing plans regarding the unused potential of the Black Sea bed and the deposits located there.
The entry of “Shell“ into the exploration and production market is indicative that the development of our own deposits has enormous potential. This process will not be instantaneous, it will take quite some time, but on the other hand, this is also a potential that shows that after three unsuccessful attempts in Bulgaria there is the necessary political trust and stability for foreign investors to dare to make long-term plans for the future, the Prime Minister added.
In conclusion, Zhelyazkov expressed hope that in the coming years Bulgaria will be able to boast of guaranteeing its energy independence and much cheaper energy resources.