site.btaOMV Petrom and NewMed Energy Sign Drilling Agreement for Two Exploration Wells in Han Asparuh Block

OMV Petrom and NewMed Energy Balkan, a subsidiary of NewMed Energy, have announced the signing of an agreement for the drilling of two offshore exploration wells in Bulgaria’s section of the Black Sea, OMV Petrom said on Tuesday.

The drilling operations will be carried out by Noble Corporation, a company specializing in offshore drilling services. The selected rig, the Globetrotter, is a modern, deepwater drillship equipped for complex exploration missions, the company also said.

Both OMV Petrom and NewMed Energy view the agreement as a significant milestone in their joint strategic efforts to explore new energy resources in the region.

The two wells will be drilled in the Han Asparuh Block, with operations expected to begin in the fourth quarter of this year and lasting approximately four months. The contract is valued at around USD 80 million.

Halliburton has been selected to provide integrated drilling services, while SLB (formerly Schlumberger) will be responsible for well testing operations. The total projected budget for the drilling campaign is estimated at roughly EUR 170 million.

The initiative aligns with Bulgaria’s broader strategic goal of diversifying its hydrocarbon sources and supply routes. It also has the potential to make a significant contribution to the region’s energy security.

The Han Asparuh exploration block is located in the western part of Bulgaria’s Black Sea waters, south of Romania’s Neptun Deep block. It spans an area of 13,712 square kilometres with water depths reaching nearly 2,000 metres. Exploration activities began in 2012 and have included geological and geophysical studies, as well as three prior exploration wells. In 2020, a major 3D seismic survey was completed to identify promising drilling targets.