Bulgaria, Exxon Discuss Disputed Black Sea Block, Hotnews Says

Bulgaria is in talks with Exxon Mobil Corp. (XOM) about a hydrocarbon exploration block in the Black Sea that’s the subject of a dispute with Romania, Hotnews reported today, citing unidentified diplomatic sources.

Cristian Diaconescu, Romania’s foreign affairs minister, said on March 20 there has been litigation between Romania and Bulgaria over a 300 square-kilometer (115,800 square-mile) area in the Black Sea since 1994, because borders aren’t exactly delineated, the online news service said.

Romania aims to resolve the dispute through bilateral talks with Bulgaria but will take the issue to the International Court of Justice in The Hague if a solution isn’t found, Hotnews said.

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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