Sofia. Bulgarian government allowed Petroceltic OOD, Luxembourg, to continue the oil and gas explorations at the Galata field, located in the continental shelf and the economic zone of the Republic of Bulgaria, until the start of September 2016.
At the request of the permit holder, the deadline of the exploratory contract has been extended with 411 days as of July 22, 2015, the press office of the Bulgarian Government announced.
The contract on the oil and gas exploration at Galata field was signed on February 4, 2008 with Melrose Resources, Luxembourg. It was of a three years term and was extended with two years twice. In the meantime, Melrose Resources was renamed to Petroceltic.