BEH Joins Han Asparuh Exploration Venture
- BEH holds a 10% stake in the Han Asparuh offshore exploration joint venture.
- OMV Petrom and NewMed Energy each hold 45% in the venture.
- Exploration drilling began in December 2025 with Noble Globetrotter I.
- A study suggests EUR 1 billion investment could yield EUR 5.2 billion in GDP.
Joint Venture Overview
Bulgarian Energy Holding (BEH) has acquired a 10% interest in the Han Asparuh offshore exploration joint venture in the Bulgarian Black Sea. The venture is operated by OMV Petrom, which holds a 45% stake, alongside NewMed Energy, also with 45%.
Exploration Activities
Exploration drilling commenced in December 2025 and is currently ongoing. The drilling vessel Noble Globetrotter I has been contracted to drill two exploration wells in the Han Asparuh block.
Economic Impact
A study by EY, commissioned by OMV Petrom and NewMed Energy, indicates that unlocking the natural gas potential in the Bulgarian Black Sea could significantly benefit Bulgaria's economy and energy security. The analysis suggests that every EUR 1 billion invested in offshore projects could generate up to EUR 5.2 billion in GDP and EUR 1.5 billion in state revenues.
Han Asparuh Block Details
The Han Asparuh block is located in the Western Black Sea, south of Romania's Neptun block, covering an area of 13,712 km² with water depths slightly below 2,000 meters. Exploration activities began in 2012, including geological and geophysical surveys and the drilling of three exploration wells. A comprehensive 3D seismic campaign was completed in May 2020 to identify potential drilling targets.
Source: OMV Petrom