TPOC enters concession for gas exploration in the Bulgarian Black Sea

Shell Exploration and Production will be able to transfer 33 percent of its rights and obligations under the permit for exploration of oil and natural gas in the area "Block 1-26 Khan Tervel", the Council of Ministers decided. The government's press service announced that the new holder, which will be involved in the exploration, is Turkish Petroleum Overseas Company Limited (TPOC).

After the partial transfer, Shell will own a 42 percent share in the exploration activities, TPOC acquires 33% and OMV owns 25 percent. "Block 1-26 Khan Tervel" is located in Bulgaria's exclusive economic zone in the Black Sea. The contract for exploration of this territory was concluded in December 2025 with Shell Exploration and Production. In April 2026, the holder transferred 25 percent of its rights and obligations under the permit to "OMV Petrom" - Romania.

Editor: Ivo Ivanov