OMV Petrom has closed a farm-out transaction with NewMed Energy in the Black Sea offshore Bulgaria, according to a March 12 OMV Petrom news release.
Following the transaction, OMV Offshore Bulgaria and NewMed Energy Balkan each have a 50% interest in the Han Asparuk exploration block, south of the OMV Petrom-operated Neptun Deep gas development in the Romanian sector.
Han Asparuh covers a 13,712-sq-km area in water depths approaching 2,000 m.
The partners will aim to drill an exploration well later this year, subject to obtaining all required approvals. Depending on the results, further drilling could follow.
Exploration on the block started in 2012 with geological and geophysical surveys, later followed by drilling of three exploration wells. Results from a 3D seismic survey campaign completed in May 2020 led to the identification of new potential drilling targets.
