Total enters exploration in Bulgaria with Khan asparuh offshore license

摘要

Paris, France-based Total has signed with Bulgarian authorities for an exploration contract concerning the offshore Khan Asparuh license. The 14,220 square kilometer block was awarded under the licensing round that opened last January 31. The block is located nearly 80 kilometers offshore in the Black Sea in water depths between 100 meters and 2,000 meters. The company has signed an agreement to allow Austria's OMV and Spain's Repsol to work on the permit with a 30% interest. Total holds the remaining 40% stake.