Gas exploration at the Bulgarian shelf near Galata disappointed the concessioner

Petroceltic International Company has announced it may stop the exploration of gas at the Bulgarian coast due to inability to get enough gas to justify the commercial production.

The drilling in the Kamchia-1 block near Galata at the Black Sea shelf has reached the depth of 1000 meters and has discovered only the 20-meter thick oil-bearing sand reserves, BNR reports.

The company has announced it will analyze the data to update the regional geological model. After that it will decide whether to continue the concession for the next 2 years or not.

English translation by BSN