Bulgaria Opens Tender for Oil/Gas Exploration in Varna Region

Bulgaria has opened a tender for prospecting for oil and gas in Block 1-24 Kitka in Varna Region.

The tender is part of the government's efforts to reduce Bulgaria's almost complete dependence on Russian gas imports by increasing domestic production.

Block 1-24 Kitka spreads over 704 square kilometers in the southwestern part of Varna Region, in northeastern Bulgaria.

The exploration permit will be granted for a five-year period, with an option of two extensions of two years each, the government announced on Friday following a weekly meeting.

Potential bidders will be able to buy tender documents within 120 days after the publication of the announcement in the Official Journal of the European Union.

Candidates will be ranked according to their work plans, investment in environment protection, training programmes as well as managerial and financial capabilities.