The geological exploration works on the Bulgarian continental shelf of the Black Sea will begin in February 2016, said Bulgarian Premier Boyko Borisov.
Borisov added that the exploration works in the deep-water bloc Khan Asparukh would have started, if the first government was not forced to resign in 2013, reported Bulgarian Novinte agency.
He also reported that Bulgaria spends about $6.7 billion a year to buy oil products and gas, while the country’s own resources remain undeveloped.
Deputy Energy Minister Zhecho Stankov said that Bulgaria is going to hold the license round for the right to develop Silistar and Teres oil and gas blocs on the Black Sea shelf to reduce dependence in Russia.
US ExxonMobil, French Total and British Melrose applied for development of gas fields on the Khan Asparukh bloc in 2012.—0—
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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