Oil and Gas Exploration and Production Plc Information

"Oil and Gas Exploration and Production" Plc focuses predominantly on projects related to prospecting, exploration and appraisal of new oil and gas fields onshore as well as offshore Bulgarian Black Sea and the exclusive economical zone into Black Sea. In the period 2001-2008 "Oil and Gas Exploration and Production" Plc. realized huge investment programme on two Permissions for prospecting and exploration of oil and natural gas onshore (Block 1-1 Pleven and Block 1-2 Novachene) including more than 800 linear km seismic lines and 9 (nine) exploration wells. Since September 2005 the company holds the rights under a Permit for oil and gas prospecting and exploration in Block Shabla which size is 2776 sq. km, situated in the northern part of Bulgarian Black Sea shelf. To the end of 2009 in Block Shabla are accomplished more than 1000 km offshore 2D seismic lines and the company's investments are more than 2 million BGN. Since the end of 2008 "Oil and Gas Exploration and Production" Plc. holds the rights under a Permit for oil and gas prospecting and exploration in Block 1-4 Kavarna which size is 414.6 sq.km, situated in Dobritch district. The work programme for three years in Block 1-4 Kavarna includes 1000 km 2D seismic lines and 8 (eight) exploration wells. Since June 2010 "Oil and Gas Exploration and Production" Plc. holds the rights under a Permit for oil and gas prospecting and exploration in Block 1-12 Kneja which size is 1348.5 sq.km, situated in Central Northern Bulgaria. The Permission is with initial five years deadline with possibilities for another five years prolongation.