US company Shevron continued its interest in the Bourgas-Alexandroupolis oil pipeline project, Economy and Energy Minister Roumen Ovcharov said after returning from his visit to the US.

Regional Development and Public Works Minister Assen Gagauzov said as quoted by mediapool.bg that Chevron was interested in purchasing shares from Bulgarian and Greek companies initially planning to take part in the project.

Bulgaria and Shveron have not negotiated the matter yet since Bulgaria, Greece and Russia had to sign the agreement for the pipeline first, Gagauzov said.

The agreement is to be signed on March 15 2007.

A Bulgarian-Russian-Greek company will be founded to carry out the project. Russia will possess 51 per cent of the company while Bulgaria and Greece will have equal shares of 24.5 per cent.

Bulgaria was still to decide whether to sell its entire share or to keep part of it. Gagauzov said that the international company, Bulgarian Cabinet and Bulgaria’s representatives in the company will have to decide how to manage the Bulgarian share.