Home > Bulgarian Economy > New Bulgaria Gas Reserves Expected to Fulfill National Needs

New Bulgaria Gas Reserves Expected to Fulfill National Needs

A large deposit of natural gas has been discovered near the Bulgarian village of Deventsi in the Cherven Bryag municipality according to Edward Gendelman, the president of the US company ‘Direct Petroleum’, Darik Radio reported late Saturday.

Gendelman announced that the reserves could fulfill Bulgaria’s total natural gas needs for up to 3 years, with a reserve of up to 6 B cubic meters found under the village.

The newly found gas reserve is at a depth of 4.1 km below the ground and is of a higher quality than the normal reserves found in Bulgaria. It is a high calorie reserve with up to 95% methane.

By the middle of 2010 the exploitation of the deposit is expected to begin and its two drills will be included in Bulgaria’s gas transit system.

Direct Petroleum has so far invested about 50 million U.S. dollars in the drillings. The full inspection of the site will continue over the next year and will include an ecological survey.

http://www.novinite.com/view_news.php?id=101262

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Categories: Bulgarian Economy Tags: ,
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