- Drillship contract awarded to Noble Corporation
- Two exploration wells to be drilled on the Han-Asparuh Block
- Halliburton and SLB to provide associated drilling services
OMV Petrom, the largest energy producer in Southeastern Europe, and NewMed Energy Balkan, a subsidiary of NewMed Energy, announce the signing of a rig contract for the drilling of two offshore exploration wells in the Black Sea, offshore Bulgaria.
This milestone marks a significant step forward in the two companies’ strategic efforts to unlock new energy resources in the region.
The contract was awarded to Noble Corporation, a globally recognized offshore drilling contractor. The selected drillship, Globetrotter I, is a state-of-the-art ultra-deepwater drillship, designed for efficient offshore drilling operations.
“We are excited to move forward with this important phase of our exploration program in Bulgaria,” said Cristian Hubati, member of OMV Petrom Executive Board, responsible for Exploration and Production. “This contract underscores our commitment to investing in the region’s energy potential and to working closely with local authorities and stakeholders to ensure safe, efficient, and environmentally responsible operations.”
Yossi Abu, CEO of NewMed Energy: “We are excited about the opportunities NewMed has in Bulgaria alongside our partners and remain committed to advancing drilling operations in the license we hold together with OMV Petrom. The agreement announced today brings us one step closer to unlocking the potential we see in this license.”
The two wells will be drilled on the Han-Asparuh Block.
The drilling campaign is expected to start in the fourth quarter of this year and last approximately four months. The value of the rig contract is approximately USD 80 million.
The integrated drilling services will be provided by Halliburton and the well testing services will be provided by SLB.
Total drilling budget expected at approximately EUR 170 million.
This initiative aligns with Bulgaria’s broader energy diversification goals and has the potential to contribute significantly to regional energy security.
Han Asparuh
Han Asparuh is an exploration block located in the western Black Sea in Bulgaria, south of the Neptun Deep block in Romania and has an area of 13,712 km² with water depths slightly below 2,000 m. 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 to identify potential drilling targets.
OMV Petrom in the Black Sea
OMV Petrom has over 40 years of experience in oil and gas production in the Black Sea. In the Romanian sector, it operates several blocks, producing oil and gas in the shallow waters. In deepwater, OMV Petrom, in partnership with Romgaz, is developing the Neptun Deep project, with estimated volumes of 100 billion cubic meters of gas. First gas production from Neptun Deep is expected in 2027. More details about Neptun Deep here.
About OMV Petrom
OMV Petrom is the largest integrated energy producer in Southeastern Europe, with an annual Group hydrocarbon production of approximately 40 million boe in 2024. The Group has a refining capacity of 4.5 million tons annually and operates an 860 MW high-efficiency gas-fired power plant. The Group is present on the oil products retail market in Romania and neighbouring countries through approximately 780 filling stations under two brands – OMV and Petrom.
OMV Petrom is a company in which, as of end-2024, Romanian shareholders hold over 44% of the shares (of which the Romanian state, through the Ministry of Energy, holds 20.7%, and 23.7% are owned by pension funds in Romania, to which are added almost 500,000 individual investors and other Romanian entities). OMV Aktiengesellschaft, one of the largest listed industrial companies in Austria, holds a 51.2% stake in OMV Petrom, and the remaining 4.5% are held by other foreign investors. Of the total shares of OMV Petrom, 28.1% represents the free float on the Bucharest Stock Exchange.
OMV Petrom is one of the largest contributors to the state budget, with around 44 billion euro in taxes and dividends paid between 2005 and 2024. During the same period, the company invested approximately 20 billion euro.
Since 2007, OMV Petrom has included corporate responsibility principles into its business strategy. Between 2007 and 2024, the company has allocated around 190 million euro to develop communities in Romania, focusing on environmental protection, education, health, and local development.
Our commitment to climate change mitigation is reflected by our consistent efforts to reduce our emissions, with the long-term goal to achieve net zero operations by 2050.