Feb 26

Government extends the deadline for prospecting and exploration of oil and natural gas in Northeastern Bulgaria

  With its decision of 17 February 2014 the government has extended the deadline for the prospecting and exploration of oil and natural gas in Northeastern Bulgaria with 2 more years. Along with this change, the government has revised a number of other important points in the authorization for the described research activities, which include the provision of a new company to carry out these activities - "Overgas Inc." AD – a company primarily owned by Russian gas giant Gazprom, will replace the existing English companies "Balkan Explorers ( Bulgaria ) Limited " and " J K X Bulgaria Limited".