Azerbaijan, Bulgaria discuss SOCAR's involvement in gasification of Bulgaria

BAKU. July 2 (Interfax) - Bulgarian Energy Minister Vladimir Malinov at a meeting in Baku discussed opportunities for the State Oil Company of the Azerbaijani Republic (SOCAR) to expand in Bulgaria, cooperation in the gas sector and exploration of oil and natural gas fields in the Black Sea, the Bulgarian Energy Ministry's press service said.

"Bulgarian Energy Minister Vladimir Malinov held a meeting in Baku on Monday with Azerbaijani Economy Minister Mikayil Jabbarov. Bulgaria and Azerbaijan decided to deepen cooperation in the energy sector to guarantee the security and diversification of natural gas supplies. The Bulgarian side is interested in receiving additional gas from Azerbaijan for Bulgaria and the region under long-term contracts," the ministry said in a statement.

The ministry said SOCAR's participation in the gasification of Bulgaria "is one potential area for its expansion in the country."

Regarding exploration on the Black Sea shelf, Malinov said that on June 12, the EU in its official journal announced a tender for oil and gas prospecting and exploration rights at Block 1-26 Khan Tervel in Bulgaria's exclusive Black Sea economic zone, and invited companies from Azerbaijan to bid.

"Expanding exploration of oil and natural gas fields in the Black Sea is of strategic importance to realizing our priorities for the diversification of energy supplies. That is why the [Bulgarian] government is committed to speeding this process up," Malinov said.

Block 1-26 Khan Tervel measures 4,032 square kilometers. Limited geological exploration was carried out there in 2002-2008 but no drilling.

SOCAR began supplying natural gas to industrial enterprises in Bulgaria on June 21, 2024 as part of its business expansion strategy in Europe.