“OMV Offshore Bulgaria” GmbH will explore for oil and gas in Block 1-21 Han Asparuh area for two more years
Energy Minister Vladimir Malinov and Rob Dobbins, OMV representative of Romania's “OMV Petrom”, a subsidiary of Austria's OMV, signed an annex extending the permit for prospection and exploration for 23 months due to force majeure. The force majeure covering the period from 24 February 2022 to 24 January 2024 is motivated on the grounds of the war in Ukraine and the withdrawal of “Total Energies EP Bulgaria” B.V. from the project. “I count on the OMV's commitments to complete the prospection and exploration of Block Han Asparuh within the set timeframe,” Minister Malinov said. He expressed his confidence that a company with such an expertise as OMV would achieve good results. “The successful completion of the prospection and exploration of the Block will make a significant contribution to guaranteeing energy security and increasing competitiveness for Bulgarian domestic and industrial consumers and the region as well,” he stressed.
During the meeting, the Ambassador of the Republic of Romania to Bulgaria H.E. Brândușa Ioana Predescu thanked the Bulgarian Government for taking action to extend the prospection and exploration period in the Black Sea. In her words, the interests of Bulgaria and Romania are common and the benefits will be undeniable.
In accordance with a Decision of the Council of Ministers of 9 May 2024, an agreement to the contract for prospection and exploration was also signed at the Ministry of Energy, under which Total Energies EP Bulgaria B.V. transferred its 57.14% share of the rights and obligations pursuant to the permit to “OMV Offshore Bulgaria” GmbH-Austria. After the transfer “OMV Offshore Bulgaria” GmbH – Austria has a 100% stake in the project. Block 1-21 Han Asparuh is situated in the exclusive economic zone of the Republic of Bulgaria in the deep Black Sea.