site.btaExploration Activities in Khan Asparuh Block Advance

OMV Petrom, the largest integrated energy producer in South-Eastern Europe and the operator of the Khan Asparuh offshore block, together with partner NewMed Energy, has announced progress in the exploration activities for the block.

“We are excited to start exploration drilling in Bulgaria — a milestone that strengthens our presence in the Black Sea. Having two rigs operating simultaneously, one offshore Bulgaria and another offshore Romania, is a remarkable achievement for our team. This project complements our existing operations and underscores our commitment to contribute to the regional energy security”, said Christina Verchere, CEO of OMV Petrom.

The drillship Globetrotter I of Noble Corporation has arrived in Bulgaria. The first well location, Vinekh-1, is situated approximately 200 km east of Varna, in water depths of around 2,000 meters. Final preparations are underway to commence drilling by the end of the year.

"We believe in the potential of the Black Sea for the region and together with our partners at NewMed Energy, we have committed to investing in its exploration. This is an important moment, which reflects our expertise as a deep offshore operator in the Black Sea region. The drilling campaign includes two wells, and is expected to cost around 170 million euros. Advanced technology and the highest safety standards are essential for our operations”, said Cristian Hubati, Member of OMV Petrom’s Executive Board responsible for Exploration and Production.

“The start of this drilling campaign marks an important milestone for our partnership and for the development of energy resources in the region. The Han Asparuh block has significant potential and opens new opportunities for Bulgaria. At the same time, it is an important step in expanding our operations in Southeast Europe”, said Yossi Abu, CEO of NewMed Energy.

The exploration campaign includes two wells, with a total budget of around EUR 170 million. Halliburton will provide integrated drilling services, and SLB will handle well testing. The drilling campaign is expected to take approximately five months.

Khan Asparuh is an exploration block located in the Western Black Sea in Bulgaria, South of the Neptun block in Romania and has an area of 13,712 sq km with water depths slightly below 2,000 m. Exploration activities started in 2012 and included geological and geophysical surveys and the drilling of three exploration wells. An extensive 3D seismic campaign was finalized in May 2020 to identify potential drilling targets.