Total delays Bulgaria exploration

Total delays Bulgaria exploration

Total, operator of the offshore 1-21 Han Asparuh block, has cancelled tenders for drilling services in a decision agreed with its partners in the block, Austria’s OMV and Spain’s Repsol.

“Due to the significant and incessant decline in the prices of oil globally in the past months … the companies unanimously decided to change the budget and the working schedule for 2015 and postpone the start of the drilling programme for 2016,” the Bulgarian division of Total said in a note to the Bulgarian public procurement agency.

Source: Reuters

Oil and Gas Press