Oil & Gas

Oil & Gas

The oil and gas industry is highly regulated at both national and international levels. At the international level, the United Nations Framework Convention on Climate Change was created in 1992 and serves as the body to monitor and approve international agreements involving energy consumption. Other relevant international agreements include: the Paris Agreement (2016), designed to strengthen the global response to the threat of climate change, and the Kyoto Protocol (1997/2005), which sets internationally binding emission reduction targets and is linked to the United Nations Framework Convention on Climate Change. In Europe, Directive 94/22/EC of the European Parliament and of the Council of 30 May 1994 sets forth the conditions for granting and using authorizations for the prospecting of, exploration for, and production of hydrocarbons. At the national level, Bulgarian laws govern pipeline construction and the transportation of natural gas, the prospecting and exploration licensing regimes, oil and gas transportation, fuel standards, and so on. DGKV’s lawyers combine sector specific knowledge from a difference practice groups in order to help clients navigate through all national laws and regulations relevant to the oil and gas industry. In addition, our experts have thorough understandings of industry-relevant European regulations and of those international treaties to which Bulgaria is a party.