Romanian company joins gas exploration in Bulgaria’s Black Sea zone

OMV Petrom announced that it is joining the consortium for the exploration of the offshore block “Han Tervel” in Bulgaria’s economic zone in the Black Sea. The Romanian integrated oil company is controlled by Austria’s OMV. It is one of the largest corporations in Romania and the largest producer of oil and gas in Southeast Europe.

• Türkiye is joining gas and oil exploration in the “KhanTervel” block

OMV Petrom will acquire a 25% stake in the project. In the same consortium, Shell holds a 42% stake, while the remaining 33% is held by Turkish Petroleum Overseas, a subsidiary of Türkiye Petrolleri. The participation agreement has already been signed, and the completion of the deal is awaiting approval from the Bulgarian government.

The “Han Tervel” block covers approximately 4,000 square kilometers and is located south of the “Han Asparuh” block, where significant exploration activities have already been carried out. OMV Petrom has already gained considerable experience through the Neptun Deep project in the Romanian sector of the Black Sea, as well as through its participation in the “Han Asparuh” block, BGNES reports.

Edited by Ivo Ivanov

Translated by Kostadin Atanasov