/ world today news/ The information of “KROSS” that there are no deposits of natural gas in the Black Sea is beginning to be confirmed. Yesterday we reported that our well-informed sources reported that France’s Total’s Polshkov-1 (POL-1) exploratory well in consortium with Repsol and OMV in the territory of the Khan Asparukh block in the Black Sea has ended without success. Our sources also informed us that all the technology with which the exploration activities were carried out is not even found in the Black Sea anymore.
“Total” won the tender for an exploration and production permit in the “Khan Asparuh” block, which was announced in October 2011. The entire investment is worth 1 billion euros. In addition, the government was granted a record bonus of €40 million for obtaining the prospecting and exploration permit. Every year the state also receives an area fee in the amount of BGN 1.138 million, which in five years makes over BGN 5.7 million.
Since 2012, the most large-scale 3D and 2D seismic studies have been carried out in the block, respectively, on the basis of which the exact location for the drilling was selected.
After this well apparently ended without success, the government is trying to start a second one.
Yesterday it became clear that the Irish company Petroceltic International is abandoning the exploration for the presence of natural gas in the Kamchia – 1 block, in the Galata region of the Black Sea. The results so far do not show that there is enough gas in this area off the Bulgarian Black Sea coast to justify production, informs “Reuters”, quoted by dir.bg. Immediately after the announcement, the company’s shares fell 5%.
The exploration of the “Kamchia-1” field is part of the concession for Galata. Drillers reached a depth of 2,887 feet (880 meters) but were disappointed with the result, the company said.
The company entered Bulgaria after acquiring the Scottish “Melrose Resources” for 210 million euros in the middle of last year.
Petroceltic International is a public company listed on the Irish and London Stock Exchanges. Its main activity is exploration and production of oil and gas. The company has regional offices in Rome, London and Algeria.
Bulgaria hoped that the studies in the “Khan Asparuh” blocks (explored by the French “Total” in a consortium with OMV and “Repsol”) and “Teres” would turn out to be more favorable, but apparently there is a lack of natural gas deposits in both places.
At the beginning of October last year, the Council of Ministers announced a competitive procedure for issuing a permit for the search and exploration of oil and natural gas in “Block 1-22 Teres”, which has not yet been completed, bTV clarifies.
The paradox is that for the second day now there is no official information on this matter.
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