Preparations underway for the offshore exploration campaign in Bulgaria’s Han Asparuh block

OMV Petrom, the largest integrated energy producer in South-Eastern Europe and the operator of the Han Asparuh offshore block, together with partner NewMed Energy, announces progress in the exploration activities for Han Asparuh 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”, stated Christina Verchere, CEO of OMV Petrom.

The drillship Globetrotter I of Noble Corporation has arrived in Bulgaria (Video: Globetrotter I Journey). 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.

Han Asparuh Block
Han 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 km² 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.

OMV Petrom in the Black Sea 
OMV Petrom has over 40 years of experience in oil and gas production in the Black Sea. In the Romanian sector, it operates several blocks, producing oil and gas in the shallow waters. In deepwaters, OMV Petrom, in partnership with ROMGAZ, is developing the Neptun Deep project, with estimated volumes of 100 billion cubic meters of gas. First gas production from Neptun Deep is expected in 2027. More details about Neptun Deep here.   

About OMV

It is our purpose to re-invent essentials for sustainable living. OMV is transitioning to become an integrated sustainable energy, fuels, and chemicals company. OMV is striving to achieve net zero by 2050 at the latest. In 2025, the company generated revenues of 24 billion euros with a talented workforce of around 22,300 employees worldwide. OMV’s key strategic majority shareholdings include a 75 percent stake in Borealis and a 51.2 percent stake in OMV Petrom. OMV shares are traded on the Vienna Stock Exchange (OMV) and in the US on OTCQX (OMVKY, OMVJF). For more information, please visit www.omv.com.

About OMV Petrom

OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 38 million boe in 2025. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.

OMV Petrom is listed on the Bucharest Stock Exchange, with a 28.1% free float. As of end-2025, Romanian shareholders held around 45% of the shares (of which the Romanian state held 20.7%, and 24.4% were owned by pension funds in Romania, as well as other Romanian natural persons and legal entities). OMV Aktiengesellschaft held a 51.2% stake in OMV Petrom, and the remaining 3.7% were held by other foreign investors.

OMV Petrom is one of the largest contributors to the state budget, with more than 48 billion euro in taxes and dividends paid between 2005 and 2025. During the same period, the company invested over 21 billion euro and allocated around 210 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.

Our commitment to climate change mitigation is reflected by our consistent efforts to reduce our emissions, with the long-term goal to achieve net zero operations by 2050.