OMV Petrom entered the Han-Asparuh exploration block in Bulgaria by completing its acquisition of OMV Offshore Bulgaria GmbH from OMV Exploration & Production GmbH.
Han-Asparuh lies in the western Black Sea in Bulgaria, south of the Neptun Deep block in Romania and with an area of 13,819 sq km and maximum water depths over 2,000 m. Exploration activities started in 2012 and included geological and geophysical surveys and drilling of three exploration wells. An extensive 3D seismic campaign was finalized in May covering 5,614 sq km. The seismic data are currently being processed, and, based on the results, future exploration activities will be undertaken by the joint venture.
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.
OMV Petrom now has 42.86% interest in the block with the remainder owned by operator Total.