site.btaBulgaria and Oman to Negotiate Energy Cooperation Agreement

The Council of Ministers Tuesday approved a draft Memorandum of Understanding between Bulgaria’s Energy Ministry and Oman’s Ministry of Energy and Minerals aimed at creating a framework for deepening bilateral energy cooperation based on equality and mutual benefit. The Memorandum will serve as the basis for negotiations between the two countries, the Government Information Service said. The Cabinet also authorized the Energy Minister to negotiate and sign the memorandum.

The planned cooperation includes promoting the participation of companies from both countries in energy sector tenders, advancing new investments in renewable energy and energy storage facilities, and sharing knowledge and best practices in natural gas and oil. It also covers collaboration in the global LNG market, joint investments, and the involvement of qualified specialists from both nations in energy projects. The memorandum also encourages the exchange of energy policies, best practices, technologies, publicly available energy information, as well as training and expertise.

Oman has expressed strong interest in Bulgaria’s experience with energy supply diversification and renewable energy production. Oman’s oil and gas industries, which contribute 72% of the country’s GDP, are key areas for potential cooperation.