A meeting with the general manager of the oil production company Total E&P Bulgaria

A meeting was held, at the premises of the Bulgarian Chamber of Commerce and Industry (BCCI), between Mr. Tsvetan Simeonov, president of the BCCI, and Mr. Xavier Faugeras, general manager of the oil production company Total E&P Bulgaria.

During the talk, the latest developments of the Bulgarian business outlook were discussed, as well as the current status of Total’s activity in the “Khan Asparukh” oil exploration block.

On behalf of the BCCI, Mr. Simeonov acquainted the Total representative for Bulgaria with the activities and services provided by the Chamber in assistance to the business community. The Arbitration Court at the BCCI was of major interest – given its achievements, such as being one of the very few fully digitalized courts in the world and managing to resolve 98% of the cases within a one-year period. Other advantages of the Chamber, discussed during the meeting, were the provision of consulting services, certificates of origin, and force majeure confirmations.

On behalf of Total, Mr. Faugeras also expressed his interest in expanding the cooperation with the Varna Chamber of Commerce and Industry as well and underlined that albeit the difficulties and specifics of the Bulgarian legislature, he is quite pleased with the reception of Total in Bulgaria and the successful cooperation with the national institutions. According to him, the Black Sea is still a new, unexplored area for the French oil company, which might hide certain risks during the long process from drills to sales, but it certainly also provides great potential.

During the meeting, opportunities for further cooperation were also examined, as well as means for attracting more FDIs in the Bulgarian economy,  given the French company’s experiеnce  so far.