Bulgarian Government announced that it has decided to rename the Black Sea offshore block 1-14 Silistar to 1-14 Khan Khubrat and transfer the concession rights from Shell Exploration and Production B.V. to Shell International Exploration and Development Italia S.p.a.
In February 2016, Shell Exploration and Production B.V. and the Bulgarian Government have signed hydrocarbons exploration agreement for the aforementioned block. According to the agreement Shell will perform oil and gas exploration at Silistar 1-14 block in the Black Sea. The exploration area has 6,893 square kilometers and is located in the continental shelf of the exclusive Bulgarian economic zone. The duration of the agreement is five years, with an option for two extensions for two years each.
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Tags: Black Sea, Bulgaria, concession, exploitation, exploration, gas, Khan Khubrat, oil, Shell, Silistar