Following Repsol’s exit, the Bulgarian regulator approved the allocation of Repsol’s 30% participating interest to the remaining two partners.
OMV Petrom’s share in the block, via OMV Offshore Bulgaria GmbH, is now 42.86%, alongside Total (57.14%), the operator.
“This acquisition is an important step in our strategy to expand our Upstream operations in the region. OMV Petrom has been active in the Black Sea for over four decades as operator and has gained valuable deep water experience as non-operator in the adjacent Neptun Deep license in Romania,” said Peter Zeilinger, member of OMV Petrom Executive Board, responsible for Upstream.
In 2012, the Bulgarian Government awarded the Han-Asparuh exploration block to the consortium of OMV (30%), Total (40%) and Repsol (30%).
Han-Asparuh is located in the western Black Sea in Bulgaria, south of the Neptun Deep Block in Romania and has an area of 13,819 square kilometers with maximum water depths of over 2,000 meters. 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 covering 5,614 square km. The seismic data are currently being processed and based on the results future exploration activities will be undertaken by the joint venture.
Exploration in the Romanian continental shelf of the Black Sea started in 1969. The first hydrocarbon discovery was in 1980, and the first production in the Black Sea started in 1987. Currently, OMV Petrom has exploration, development and production operations in the shallow waters (Istria block) and exploration operations in partnership with ExxonMobil in deepwater areas (Neptun Deep).
Oil and gas production in shallow waters (Istria block) amounts to approximately 25,000 boe/day. In 2019, it accounted for around 17% of the group’s domestic production.