Project Profile

Location: Black Sea, offshore Bulgaria
Value: US$20.5 million
Area: 6,893 km²
Exploration licence award: 15 October 2015
Start-up Year: -

Shell Exploration and Production has signed an agreement with Bulgaria to explore oil and natural gas in the Black Sea deepwater. In September 2015, the company was elected the holder of permit for deepwater prospecting and exploration of oil and natural gas in Block 1-14 Silistar that covers 7,000km². Shell will invest €18.6m (US$20.5m) to perform seismic surveys. The proposed working programme includes 2D and 3D seismic studies, as well as measures for protecting the environment. Silistar block is part of the increase in indigenous yield that represents a primary condition to ensure energy security and independence.

Operators:

Shell International Exploration and Development Italia: Operator with 70% interest

Woodside: 30% interest