OMV Petrom and NewMed Energy Balkan, a subsidiary of New Med Energy, announce the contract for the vessel to drill two offshore exploration wells in the Black Sea, off the coast of Bulgaria. The drilling campaign is expected to start in the fourth quarter of this year and last approximately four months. The contract value for the drill vessel is approximately USD 80 million.
The contract for the drill vessel has been awarded to Noble Corporation – two exploration wells will be drilled in the Han-Asparuh area, while Halliburton and SLB will provide associated drilling services.
“This milestone marks a significant step forward in the strategic efforts of the two companies to unlock new energy resources in the region.
”The contract has been awarded to Noble Corporation, a globally recognized offshore drilling contractor. The selected platform, Globetrotter I, is a state-of-the-art deepwater drilling vessel designed for efficient offshore drilling operations,” OMV Petrom officials said.
“We are delighted to move forward with this important phase of our exploration program in Bulgaria,” said Cristian Hubati, OMV Petrom Board Member, responsible for Exploration and Production.
“This contract underlines our commitment to invest in the energy potential of the region and to work closely with local authorities and stakeholders to ensure safe, efficient and environmentally responsible operations.”
“We are excited about the opportunities that NewMed has in Bulgaria together with 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,” added Yossi Abu, CEO of NewMed Energy.
Integrated drilling services will be provided by Halliburton, while well testing services will be provided by SLB.
The total drilling budget is estimated at approximately EUR 170 million.
This initiative aligns with Bulgaria’s broader energy diversification goals and has the potential to significantly contribute to regional energy security.
Han Asparuh is an exploration block located in the western Black Sea of Bulgaria, south of the Neptun Deep block in Romania, and covers an area of 13,712 km2, with water depths of just under 2,000 m. Exploration activities began in 2012 and included geological and geophysical surveys and the drilling of three exploration wells. A 3D seismic campaign was completed in May 2020 to identify potential drilling targets.