In June 2020, OMV Petrom had won the international tender organized by the Ministry of Economy of Georgia for offshore acreage.
The contract provided for exploration, development and production of hydrocarbon resources in the offshore Block II. It covers a total area of 5,282 square kilometers and the water depth varies between 400 and 2,000 meters.
In its Q1/2024 financial report, the company also announced it will continue exploration activities in the Han Asparuh Block in Bulgaria, where it operates via a joint venture with Total.
The total exploration acreage of OMV Petrom’s interests in Romania and Bulgaria amounts to 26,000 square kilometers.
At the same time, at the Neptun Deep project, the company is set to finalize awarding of the main contracts, focus on permitting activities, start construction and prepare to spud the first well in 2025.
(English version by Catalina Apostoiu)