Bulgaria's Tervel Block tender under way until 31 August 2020

Bulgaria

Eight months after the decision of the Bulgarian Council of Ministers to open a tender procedure for the Black Sea offshore Tervel Block, the decision was finally published in the Official Journal of the EU.

As a result, the government launched a tender on 30 March 2020 during the state of emergency surrounding the COVID-19 pandemic.

With 52 days of the term for purchasing tender documents and filing proposals having already expired, the following terms remain for interested companies and individuals:

  • Until 27 July 2020 tender documentation can be purchased from the Ministry of Energy at the price of BGN 10,000;
  • Until 17 August 2020 an application can be submitted for participation; and
  • Until 31 August 2020 proposals for the performance of the tender requirements can be submitted.

Candidates planning to participate in the tender must provide the Ministry of Energy with a deposit of BGN 15,000.

The general tender information includes: area of 4,032 square metres; a five-year term permit with the possibility for extension; acquisition and reprocessing of 2-D and 3-D seismics; and the production of a geological model for the assessment of petrol potential and the identification of perspective structures. A well is not obligatory. 

For more information about the tender, refer to our previous law-now alerts.

For advice on the tender process, contact your regular CMS advisor or local CMS experts: Kostadin Sirleshtov, Denitsa Dudevska and Zornitsa Stoykova.