OMV Petrom, in partnership with NewMed Energy, is nearing the spudding of the first of two significant deepwater exploration wells in the Han Aspurah block within Bulgaria's Black Sea sector. The drillship Noble Globetrotter I has been contracted for this campaign and recently arrived at an anchorage off Varna, Bulgaria.

Exploration Targets and Resources

The initial well will target the Vinekh prospect, estimated to hold 3.5 trillion cubic feet (Tcf) of potential in-place gas resources. The second well will subsequently drill the Krum prospect, which contains an estimated 5.7 Tcf of in-place gas resources.

Location and Context

The Han Asparuh block is situated in water depths under 2000 meters, located just across the maritime boundary from OMV Petrom's Neptun Deep gas project in Romanian waters. The Neptun Deep project is scheduled to commence production in 2027.

Ownership and Timeline

OMV Petrom holds a 50% interest in the block, with NewMed Energy owning the remaining 50%. The company had previously indicated the first well was planned for the fourth quarter of 2025.