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Chevron interested in Bulgarian shale gas

Date: July 20^th 2010 Author: Anastasiya Georgieva Aleksandrova, Sofia Category: Articles
Topic: Natural gas

The US fuel company Chevron is interested in carrying out research for the extraction of Bulgarian shale gas.

“Bulgaria has the opportunity to diversify its energy sources,” US ambassador to Bulgaria James Warlick said. He was speaking at a briefing on shelf gas as an alternative to natural gas and eventual perspectives for the development of such gas deposits on the territory of Bulgaria by US companies, Focus News Agency reported on 13 July 2010.

Bulgarian Prime Minister Boyko Borisov met with Chevron vice president Ian MacDonald, who informed him about possibilities for extraction in Bulgaria. According to Warlick, it was still too early to comment on gas prices because research on the possibilities of its extraction was still being conducted.

Chevron specialists explained that the shale gas deposits were situated close to the border with Romania in the north-eastern part of Bulgaria. Extraction of such kind of gas requires preliminary seismic research, as it most likely lies at a depth of 2000 to 4000 metres. Twenty-five billion cubic metres of gas could be extracted from the deposit.

Warlick said that Bulgaria used 5 billion cubic metres of gas a year, Focus said.

Chevron has already filed a prospecting request and awaits confirmation from the Ministry of Environment and the Council of Ministers. “I hope that a prospecting licence will swiftly be granted to Chevron, which is going to invest a lot of money in Bulgaria,” Warlick said.

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