понеделник, 20 април 2015 г.

Now official: The Tender for Exploration License on Silistar and Teres Blocks is now formally out

Source: Bulgarian Ministry of Energy
As I have alerted in my Friday post the tender is now formally out. Both exploration blocks marked  "1-22 Teres" и "1-14 Silistar" are in Bulgaria's EEZ bordering to the north the Turkish territorial waters.

The license period will stretch for a 5 year term. Only companies with revenues in excess of 150 million euro for the last three financial years will be eligible to take part.

The bids will be evaluated on the virtues of the proposed work program and bonus payments, as well as environment protection measures.

All interested parties will be able to buy the tender documentation until the 120-day of the publication of the tender notice in the Official Journal of the European Union. Expression of interest letters will be expected until the 140-th day and the bids submitted until the 155-th day.

The expectations are that by the end of the year the winners will be announced.

The Government expects to attract the interest of major players in the industry, notably those operating in the region.

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