Bloomberg News

Total Wins Bulgaria Black Sea Deep-Water Drilling Permit

July 12, 2012

Total SA (FP) won a permit to explore for natural gas in the deep waters of the Black Sea off the Bulgarian coast, Energy, Economy and Tourism Minister Delyan Dobrev told reporters in Sofia today.

Total competed with Exxon Mobil Corp. (XOM:US) and Melrose Resources Plc (MRS) for the permit explore the Khan Asparuh block near the northern border with Romania, which is for five years, including the initial drilling, he said.

Austria’s OMV AG (OMV) and Spain’s Repsol SA are partnering with Total on the permit, Austria Press Agency reported, citing the ministry.

OMV in February said that it had found gas in a Black Sea well in neighboring Romania in what might be its biggest find ever.

To contact the reporter on this story: Elizabeth Konstantinova in Sofia at ekonstantino@bloomberg.net

To contact the editor responsible for this story: Zoe Schneeweiss at zschneeweiss@bloomberg.net


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