The government has allowed the UK company Melrose Resources to search for natural gas and oil in the region of Galata at the northern Black Sea coast. Research works will be located on 1,910 square kilometres. The permit expires in three years. The expected investments amount to USD 120mn. Melrose already extracts natural gas from the sea region of Galata at present and covers nearly 15% of the local market demand. Melrose Resources acquired last year research and exploration licences for five seabed zones, including Burgas, covering around 10,000 square metres.
Source: Intellinews-Bulgaria Today