Gulf Oil and Gas accountACCOUNT

Bulgaria Cancels Chevron Shale Gas Permit

Source: Reuter 1/17/2012, Location: Europe

Share |
The Bulgarian government, preparing a full ban on shale gas drilling due to environmental concerns, on Tuesday cancelled a exploration permit for the unconventional energy source that it granted to U.S. energy major Chevron in June. The centre-right government decided Chevron can still prospect for oil and gas in northeastern Bulgaria but only by using conventional drilling techniques and not hydraulic fracturing, which involves injecting water mixed with sand and chemicals at high pressure into shale formations.

"The idea is that they can still have the right to test for oil and gas, but without using the controversial technology hydraulic fracturing," Economy and Energy Minister Traicho Traikov told reporters after a cabinet meeting.

Traikov said Chevron had not been informed and talks with the company were pending. The decision comes a day before the parliament debates a total ban on hydraulic fracturing, or fracking, in the Balkan country and its Black Sea territorial waters - a proposal drafted by the ruling GERB party which is expected to be passed. The government in June granted a 5-year permit to Chevron to prospect for shale gas at the 4,400-square-km Novi Pazar field for which initial estimates, based on similar rock formations, showed potential reserves of between 300 billion and 1 trillion cubic meters of shale gas.

Shale Gas News in Bulgaria >>

Austria >>  7/20/2016 - Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for 2017, the demand for OPEC crude next yea...
Austria >>  7/19/2016 - Total oil output from developing countries (DCs) will reach an average of 11.17 mb/d in 2016, a contraction of 0.13 mb/d compared with 0.21 mb/d and 0...

Austria >>  7/17/2016 - With ongoing supply disruptions around the world seeming to provide a floor to prices, international crude futures rose on both sides of the Atlantic ...
Austria >>  7/13/2016 - Demand for OPEC crude in 2016 is expected to be 31.9 mb/d, representing an increase of 1.9 mb/d from last year’s level. Compared to the same quarters...

Austria >>  7/12/2016 - Non-OPEC oil supply was revised down by 0.14 mb/d from the previous MOMR, averaging 56.03 mb/d in 2016, a contraction of 0.88 mb/d y-o-y. The main re...
Austria >>  7/12/2016 - World oil demand for 2016 has been kept broadly unchanged from the previous MOMR. Total world oil demand growth for 2016 now stands at 1.2 mb/d, lead...

Related Categories: Coalbed Methane  General  Heavy Oil  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 

Related Articles: Coalbed Methane  General  Heavy Oil  Oil Sands  Oil Shale  Shale Gas  Tight Gas  Tight Oil 


Bulgaria Oil & Gas 1 >> 

More News

 

Oil & Gas Companies in Bulgaria >>


Related Links

00 AL AT BE BG CH CY CZ DE DK ES FI FR GR HR HU IE IT MT NL NO PL PT RO SE SI TR UK
Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.