Image Source: businessrevieweurope.eu
Eastern Europe’s mineral resources are a potential source of economic wealth for its countries. Nations like Bulgaria find themselves situated near economically viable sources of oil and natural gas. This invites foreign investors to bring in revenue and establish businesses that would provide jobs, therefore building and reinforcing the local economy.
The fields of Eastern Europe, once inaccessible behind the Cold War’s iron curtain, are now an investment opportunity for energy companies. Once a resource only available to the former communist regimes that ruled these countries, the fields are now open for both domestic and foreign companies looking to explore for conventional energy sources.
Image Source: novinite.com
Bulgaria exports much of its natural gas production to foreign nations and its local production is still relatively low. Bulgaria, for instance, is located close to the logistically important Black Sea and has many proven reserves of oil and natural gas both on- and offshore that have yet to be developed. The sources that are economically viable would facilitate the development of infrastructure to take advantage of that gas, such as pipelines.
Such developments are vital for the development of the Bulgarian economy. The government must work closely with companies to ensure that the development of its crucial national resource would work to the benefit of the country while having a minimal impact to people and the environment.
Image Source: en.trend.az
Businessman and philanthropist Gene Phillips is heavily invested in energy exploration overseas, where his companies work toward developing the energy infrastructure of those countries. Visit this site for more information.
A Positive Legacy 