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Bulgaria: The Exploration of Oil and Gas Deposits near Vratsa is Extended

The term for exploring the possibility of extracting oil and gas deposits near Vratsa has been extended with more than a year, the government decided at its regular session on Wednesday.

The Irish company Miziya Oil and Gas, which is licensed to research in Block 1-7 Tarnak, receives another 399 days to complete its work, which has been delayed by administrative procedures for transferring rights and obligations in connection with the study . The localities are situated on the territory of the regions of Pleven and Vratsa. The contract for exploration of Miziya Oil and Gas expires in February 2019.

Now, within a month, Energy Minister Temenujka Petkova has to sign an additional agreement with Miziya Oil and Gas (Bulgaria).

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