×
×
Project Insights

Bulgaria approves transfer of 30% stake in offshore block to Woodside

Bulgaria’s government has approved the transfer of 30% of the exploration rights in offshore Block 1-14 Khan Kubrat to the local subsidiary of Australia’s Woodside Petroleum
By Staff reporter 20 December 2018 Europe & Russia / Exploration & Production 0 33776

Bulgaria’s government has approved the transfer of 30% of the exploration rights in offshore Block 1-14 Khan Kubrat to the local subsidiary of Australia’s Woodside Petroleum, SeeNews reported on Thursday.

Shell International Exploration and Development Italia currently holds 100% of the exploration rights to the block. The government has given permission for Energy Minister Temenuzhka Petkova to sign an additional agreement with the two companies for the transfer of the 30% interest from Shell to Woodside, it said in a statement following its weekly meeting.

“This opportunity...