The Bulgarian Parliament has tasked the Ministry of Energy to conduct negotiations on the terms under which Bulgarian Energy Holding (BEH) would acquire up to 20% stake in the consortium that holds hydrocarbon exploration and exploitation rights for Block 1-21 Khan Asparuh in the Black Sea.
The negotiations should be conducted within 60 days of the decision coming into force. The Ministry will prepare a report on the results to be submitted to the National Assembly.
Romania and Turkey discovered huge amounts of natural gas near the borders of Block 1-21 Khan Asparuh. In 2020, project partner Repsol withdrew from the consortium developing the Khan Asparuh oil and gas field. However, TotalEnergies and OMV Petrom decided to continue exploration in the eastern part of the block. The two companies said that they are actively seeking a third partner.
