Total (TOT) reaches agreement with Bulgaria to explore for natural gas and oil in the deepwater...

|By:, SA News Editor

Total (TOT) reaches agreement with Bulgaria to explore for natural gas and oil in the deepwater Khan Asparuh block spreading over 5,560 sq. miles in the Black Sea near the border with Romania. Bulgaria now imports all its gas from Russia and is seeking to diversify supplies; the EU's poorest state spends as much as $1.75B a year on gas imports.