OMV Petrom completes full takeover of Bulgarian Han Asparuh offshore perimeter

The Bulgarian government has approved the transfer of the 57.14% stake held by the French energy company TotalEnergies in the Han Asparuh oil and gas block in the Black Sea to OMV Offshore Bulgaria GmbH, part of the Romanian oil and gas group OMV Petrom (BVB: SNP), and extended the permit exploration for this project, announced Ziarul Financiar.

Thus, OMV Petrom, which became the perimeter's operator last year, is now the sole shareholder of the block through the branch in Bulgaria.

Han Asparuh is adjacent to the Neptun Deep perimeter in Romania, also operated by OMV Petrom, but the gas output estimated so far is slightly larger.

Last summer, TotalEnergies EP Bulgaria CEO Yves Le Stunff said the Han Asparuh perimeter is estimated to have the potential to produce a total of 13bn cubic metres (bcm) of natural gas per year from two fields, compared to 8 bcm per year during 2030-2040 (the "plateau" period) estimated at Neptun Deep.

The Vinekh field, located near Turkish waters, is expected to produce about 5 bcm of natural gas per year from 2030 to 2040 and then 3 bcm per year over the next decade, Le Stunff told the Bulgarian Parliamentary Committee on Energy. The Krum field is expected to produce 8 bcm per year between 2031 and 2044, rising to 4 bcm per year by 2050, according to Le Stunff's presentation.

(Photo source: Flickr/OMV Petrom)