OMV Petrom Joins Shell and TPAO in Bulgarian Offshore Project
- OMV Petrom holds a 25% stake in the Han Tervel offshore block.
- The exploration license was granted in 2025 for a five-year term.
- Initial focus is on acquiring and analyzing 3D seismic data.
- Completion of the transaction is pending Bulgarian Government approval.
Project Overview
OMV Petrom has entered a consortium for the Han Tervel offshore block in the Bulgarian Black Sea, acquiring a 25% stake. The project is led by operator Shell with a 42% stake, and Türkiye Petrolleri A.O. subsidiary TPOC holding 33%, pending regulatory approval from the Bulgarian Government.
License and Exploration
The exploration license for the Han Tervel block was granted in 2025 for an initial five-year term. The block covers approximately 4,000 km2 and is located south of the Han Asparuh block. The immediate focus is on acquiring and analyzing 3D seismic data, with potential exploration drilling based on the results.
Financial Commitment
OMV Petrom will contribute to project costs and investments proportionally to its 25% stake, covering both historical costs and future operations. This move aligns with OMV Petrom’s strategy to leverage its offshore expertise in the region.
Strategic Collaboration
OMV Petrom aims to build on its exploration and development capabilities, established through the Neptun Deep project and activities in the Han Asparuh block. The company looks forward to collaborating with Shell and TPAO to explore new opportunities in the Black Sea.
Source: OMV Petrom