OMV Petrom interested in Bulgarian Black Sea gas

Romanian oil major OMV Petrom eyes the takeover of the stake held by OMV Offshore Bulgaria GmbH in the Han Asparuh exploration field in Bulgaria, by buying the stake from OMV Exploration&Production GmbH. THe company says certain conditions have to be met before the conclusion of the deal, which is expected to take place before mid-2020.

OMV Offshore Bulgaria GmbH now holds a 30% state in the deap sea marine exploration field Han Asparuh in Western Black Sea, as part of a joint venture led by Total.

The first exploration well, Polshkov-1, was drilled by the joint venture in 2016, followed by two other exploration drills in 2017 (Rubin 1) and 2018 (Melnik 1).

OMV Petrom is already present in Bulgaria through the distribution activities run under the OMV brand.