Chevron eyes shale gas exploration licence in Bulgaria
Chevron Corp, the second-largest U.S. oil company, has applied for an exploration licence to drill for shale gas in northeastern Bulgaria, Dnevnik daily reported. So far, we have set our eyes on a site in northeastern Bulgaria, on the border with Romania, the daily quoted Chevron vice president Ian MacDonald as saying. The study of the site is expected to take five years. An exploration tender for the site is due to be launched by Bulgaria's economy and energy ministry. U.S. ambassador in Sofia James Worlick estimated that Bulgaria has the potential to extract some 25bn cu m of shale gas if such deposits are discovered.