Bulgaria to develop Khan Asparuh oil field in Black Sea

Khan Asparuh oil fieldBulgaria is to begin developing the Khan Asparuh oil field in its Black Sea waters next year, its Prime Minister Boyko Borisov announced this week. Encouraged by Romania’s success in reducing its dependence on oil imports and having been pressured by Brussels to block Russia’s South Stream project, the government in Sofia is hoping to cut its $6.7bn energy bill
In 2012, Bulgaria contracted a consortium consisting of Total, OMV and Repsol to explore and develop the 14,400km² field, but the project was delayed last year in response to tumbling oil prices.

Source: Rosbalt