The term for exploring the possibility of extracting oil and gas deposits near Vratsa has been extended with more than a year, the government decided at its regular session on Wednesday.

The Irish company Miziya Oil and Gas, which is licensed to research in Block 1-7 Tarnak, receives another 399 days to complete its work, which has been delayed by administrative procedures for transferring rights and obligations in connection with the study . The localities are situated on the territory of the regions of Pleven and Vratsa. The contract for exploration of Miziya Oil and Gas expires in February 2019.

Now, within a month, Energy Minister Temenujka Petkova has to sign an additional agreement with Miziya Oil and Gas (Bulgaria).