Bulgaria Signs Major Oil and Gas Exploration Deal with Shell in Black Sea’s Khan Tervel Block
Sofia, The Gulf Observer: In a landmark move aimed at enhancing national energy security, the Bulgarian government has signed a contract with Shell Exploration and Production for the exploration and extraction of oil and natural gas in Block 1-26 Khan Tervel, located in the country’s exclusive economic zone in the Black Sea.
The signing ceremony, held today, was attended by Prime Minister Rosen Zhelyazkov and Energy Minister Zhecho Stankov, alongside Shell’s Executive Vice President for Exploration, Strategy and Portfolio, Eugene Okpere.
The contract marks a critical phase in Bulgaria’s broader strategy to bolster energy independence and reduce dependence on foreign energy supplies—an urgent national priority in light of evolving geopolitical and energy security dynamics.
Under the agreement, Shell will carry out a series of surveys—including advanced seismic studies—over a five-year period to evaluate the hydrocarbon potential of the Khan Tervel block. The company has committed to conducting all operations in accordance with high safety standards and environmentally responsible practices.
“This project reflects Bulgaria’s determination to utilize its own energy resources in a sustainable and secure manner,” said Energy Minister Stankov during the ceremony.
Prime Minister Zhelyazkov underscored the strategic importance of the initiative, calling it a “forward-looking investment in Bulgaria’s energy future.”
The deal signifies a renewed focus on tapping domestic offshore reserves in the Black Sea—a region increasingly seen as vital to Europe’s long-term energy resilience.
As Bulgaria advances with this new exploration chapter, the partnership with Shell is expected to bring technological expertise, job opportunities, and investment that may play a pivotal role in shaping the country’s future energy landscape.
