Shell Exploration and Production has been awarded the top bid to explore for oil and natural gas in the western Black Sea, off the coast of Bulgaria. The announcement was made by Bulgaria’s Minister of Energy, Vladimir Malinov, who highlighted the strategic importance of the project for the nation’s energy independence.
“The exploration for oil and natural gas in the Bulgarian economic zone in the Black Sea is key for a successful response to the challenges linked to our energy independence,” said Malinov. The move aligns with Bulgaria’s broader goal to reduce reliance on external energy sources and bolster its domestic energy production capabilities.
Shell’s exploration program for Block 1-26 Khan Tervel will include advanced geological and geophysical studies, such as new 3D seismic surveys and detailed data interpretation. The company has committed to an environmentally responsible approach, with specific spending allocated to environmental protection measures.
Eugene Okpere, Shell’s Executive Vice President for Exploration, Strategy & Portfolio, emphasized the company’s dedication to safety and precision. “We are committed to safely execute this exploration campaign,” he stated.
Before beginning the project, Shell must secure a formal permit. Once approved, the company plans to gather seismic data to enhance its understanding of the subsurface potential in the area.
The bidding procedure, launched in June 2024, attracted interest from four companies, although only two ultimately submitted bids. Shell was chosen based on its comprehensive work and investment program, its focus on environmental protection, and the bonus it proposed to the Bulgarian state for the five-year exploration period.
The exploration block, known as Block 1-26 Khan Tervel, covers an area slightly exceeding 4,000 square kilometers. It is located south of Block 1-21 Khan Asparuh, another significant exploration area in the Black Sea.
