The Council of Ministers in Sofia decided to open a tender for the prospecting and exploration of oil and natural gas in the area of Block 1-26 Tervel, which is located in the exclusive economic zone of Bulgaria in the Black Sea. The block covers an area of 4,032 square kilometers.

The prospecting license is granted for a period of five years, with the right to three extensions of two years each.

The minimum mandatory work program provides for the drilling of new 3D seismic studies, the preparation of a geological model to delimit prospective drilling targets, the evaluation of the oil potential and the possible drilling of an exploratory well, according to BTA and Agerpres.