Shell
Exploration and Production will be able to transfer 33 percent of its
rights and obligations under the permit for exploration of oil and
natural gas in the area “Block 1-26 Khan Tervel”, the
Council of Ministers decided. The government’s press service
announced that the new holder, which will be involved in the
exploration, is Turkish Petroleum Overseas Company Limited (TPOC).
After the partial transfer, Shell will own a 42 percent
share in the exploration activities, TPOC acquires 33% and OMV owns
25 percent.
“Block
1-26 Khan Tervel” is located in Bulgaria’s exclusive economic
zone in the Black Sea. The contract for exploration of this territory
was concluded in December 2025 with Shell Exploration and Production.
In April 2026, the holder transferred 25 percent of its rights and
obligations under the permit to “OMV Petrom” – Romania.
Editor: Ivo Ivanov