On Wednesday, the Bulgarian government stated that it has granted Repsol permission to transfer 30% of its exploration rights in the country to the other two rights holders.
Repsol’s 30% exploration rights in the 1-21 Khan Asparuh block for gas and oil will be transferred to Total and OMV. Total will own a sum of 57.14% of the rights while OMV will have 42.86%.
Previously, the Bulgarian government extended the deepwater oil and gas exploration in the block by two years, until May 15, 2022. The decision was part of the country’s measure to decrease its dependence on Russian natural gas suppliers.
According to the government, additional geological and geophysical works and seismic surveys worth a total of EUR3.3 million (USD3.75 million) will be carried out during the two-year extension.
