Prime Minister Zhelyazko: The state is entering as an investor in the search and exploration of underground resources in the Black Sea
The state is entering as an investor in the search and exploration of underground resources. We are developing the potential of the extractive industry with purposeful intentions so that the state can truly have the competitiveness whose potential exists, but has not been effectively used until now. This was stated by Prime Minister Rosen Zhelyazko during the ceremony for signing an agreement for the participation of BEH EAD in the exploration of oil and gas in the Khan Asparuh block in the Black Sea. In the presence of Prime Minister Zhelyazkov and Minister of Energy Zhecho Stankov, Bulgarian Energy Holding EAD, OMV Offshore Bulgaria and Numed Energy Balkan Limited concluded an agreement, on the basis of which BEH will acquire 10% of the rights to explore for oil and natural gas in block 1-21 Khan Asparuh.
" The Bulgarian state is now in a new role in the search and exploration for oil and gas in the Black Sea - not as a participant in regulation and control, but as an investor. " For us, this participation is a new reading of the investment potential and investment intentions of the state as an active participant in economic processes, " Zhelyazkov emphasized. He emphasized that the potential that the state brings through its structures and commercial entities encourages its participation in active activities that can bring very high added value to the investments made.
Minister Stankov announced that following a decision by the Council of Ministers, BEH will participate with a 10% share in the consortium with OMV and Numed for exploration of the deep-sea zone of the Black Sea, as this is the first participation of a Bulgarian company in such a project. According to the Energy Minister, the negotiating team has been in negotiations for nine months, at times with constructive discussion, at times with difficulties, but the process has been successfully completed and all documents have already been signed. “The Bulgarian state will receive up to 30% of fees, and BEH – 10% of future revenues, which is a strategic step for the country’s energy security and for ensuring its own, competitively priced natural gas for Bulgarian citizens, ” Minister Stankov also said.
The Prime Minister thanked OMV Offshore Bulgaria and Numed Energy Balkan Limited for considering the Bulgarian state as an equal trading partner. " I am sure that the opportunities for the Bulgarian market to be satisfied sooner or later by its own production will contribute to a much greater energy and raw material independence of the country, so that we can become a strategic center of Southeast Europe, " the Prime Minister added.
