OMV Petrom drills dry well in Bulgarian Black Sea
OMV Petrom has deemed the second exploration well drilled in the Han Asparuh block offshore Bulgaria a dry hole.
The operator completed drilling operations at the Krum‑1 exploration well in Block 1-21 in the Black Sea, having reached planned depth of about 3,500 m subsea. The operator said it did not encounter significant gas volumes in the target layers.
Data gathered from the two exploration wells, Vinekh and Krum, drilled since December 2025, will contribute to advancing the geological understanding of the area. the company said in a release Apr. 1.
“We remain committed to our exploration strategy and continue to pursue opportunities in the Bulgarian offshore, recognising the significant potential of the Black Sea basin,” said Cristian Hubati, member of the OMV Petrom executive board. Hubati noted OMV Petrom recently signed a farm-in agreement for exploration of the Han Tervel block with Shell plc and TPAO.
The license partners are examining total drilling costs, including abandonment costs, and expect to recognize such amount as a loss related to the drilling operation in its financial statements for first-quarter 2026, partner NewMed Energy Balkan Ltd. said in a separate release.
OMV Offshore Bulgaria GmbH is operator of the Bulgarian license with 45% interest. Partners are NewMed Energy (45%) and Bulgarian Energy Holding EA (10%).