SHELL International

The first attempt at oil and gas prospecting off Silistar in the Black Sea has failed.

At the end of March "Shell International Exploration and Development Italia", in which Shell has a 50 percent share, the Australian Woodside Energy - 30 percent, and the Spanish Repsol - the remaining shares, conducted three months of prospecting in Block Khan Kubrat.

Three month exploration drill for oil and gas in the deep waters of the Black Sea near Burgas begins on 1 April 2019. Shell International Exploration & Development Italy SPA, reported on Tuesday to journalists.

The Council of Ministers has authorized Shell International Exploitation and Development Italy S.A. to transfer 20% of oil and gas exploration rights to Block 1-14 Kubrat to Repsol Bulgaria Khan Kubrat SA. The possibility of transferring the rights and obligations under granted permit for prospecting and exploration is regulated in the Underground Natural Resources Act.

Local extraction in the deep Black Sea is one of the most real forms of diversification of energy resources - something our government is actively seeking and working for. Local resources will help us with more energy independence and better liquidity on the gas exchange.

London-based offshore drilling contractor Noble Corporation said Shell has hired its Noble Globetrotter II ship to drill a well offshore Bulgaria beginning in the first quarter of 2019, reports SeeNews. 

Bulgaria's government said that it has approved the transfer of 30% of the exploration rights on offshore Block 1-14 Khan Kubrat to the local branch of Australia's Woodside Energy from the current sole holder, Shell International Exploration and Development Italia, reports SeeNews.