In an official ceremony held at the Ministry of Foreign Affairs, a landmark memorandum of understanding was signed between the Bulgarian and Omani governments in the energy sector. The diplomatic meeting, accompanied by high-ranking representatives from both countries, marked the beginning of a large-scale bilateral interaction.
The key participants in the negotiations - Ministers Zhecho Stankov, Georg Georgiev, and Omani diplomat Said Badr bin Hamad Al Busaidi, outlined the strategic directions of future partnership. The focus was placed on several priority areas that promise significant potential for economic development.
A key emphasis in the document is the deepening of cooperation in the global liquefied natural gas market. The countries set the ambitious goal of expanding trade initiatives, creating new logistics channels, and diversifying energy supplies.
Of particular interest are the potential investments in renewable energy sources. The Omani side showed specific interest in building battery energy storage systems on Bulgarian territory, which could bring significant technological and economic benefits.
The memorandum provides for intensive exchange of expertise between institutions and companies from both countries. Priority areas include the oil industry, gas sector, and sustainable energy development. The goal is to build long-term partnerships between the public and private sectors.
For Oman, whose economy is highly dependent on the oil sector - forming over 72% of its gross domestic product, this agreement represents a strategic step towards diversification. Bulgaria, for its part, sees an opportunity to establish itself as a regional energy center.
The Ministry of Energy defines the signed document as a key moment in the national energy strategy. Expectations are that the memorandum will contribute to improving energy security, promoting innovation, and creating new international partnerships.
The coming months will show the specific results of this agreement, but the initial indications are more than promising for both countries.