OMV Petrom completes takeover of 42.9% in Bulgarian offshore project

OMV Petrom announces that it completed the acquisition of OMV Offshore Bulgaria GmbH, including its 42.9% stake in Han-Asparuh exploration block in Bulgaria from OMV Exploration & Production GmbH.

The project’s operator is French group Total (57.14%).

In 2012, the Bulgarian Government awarded the Han-Asparuh exploration block to the consortium of OMV (30%), Total (40%), and Repsol (30%).

Following Repsol’s exit, the Bulgarian regulator approved the allocation of Repsol’s 30% participating interest to the remaining two partners.

Han-Asparuh is located in the western Black Sea in Bulgaria, south of the Neptun Deep Block in Romania, and has an area of 13,819 km² with maximum water depths of over 2,000 meters.

Exploration activities started in 2012 and included geological and geophysical surveys and the drilling of three exploration wells. An extensive 3D seismic campaign covering 5,614 km² was finalized in May 2020. The seismic data are currently being processed, and, based on the results, future exploration activities will be undertaken by the joint venture.

(Photo: Pixabay)