WATCH: Noble rig reaches Bulgaria to kick off Black Sea drilling ops by year-end

December 15, 2025, by Melisa Cavcic

Southeastern Europe’s integrated energy player OMV Petrom and NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, are getting ready to begin drilling activities in the Black Sea off the coast of Bulgaria.

Noble Corporation’s Globetrotter I drillship has arrived in Bulgaria, where preparations are underway for the offshore exploration campaign in Bulgaria’s Han Asparuh block, which is expected to begin by the end of the year. The first well, Vinekh-1, is situated approximately 200 kilometers East of Varna, in water depths of around 2,000 meters.

Christina Verchere, CEO of OMV Petrom, commented: “We are excited to start exploration drilling in Bulgaria — a milestone that strengthens our presence in the Black Sea.

“Having two rigs operating simultaneously, one offshore Bulgaria and another offshore Romania, is a remarkable achievement for our team. This project complements our existing operations and underscores our commitment to contribute to the regional energy security.”

Globetrotter I journey; Source: OMV Petrom

The exploration campaign includes two wells, with a total budget of around €170 million. While Halliburton will provide integrated drilling services, SLB will handle well testing. The drilling campaign is expected to take approximately five months.

Cristian Hubati, Member of OMV Petrom’s Executive Board responsible for Exploration and Production, elaborated: “We believe in the potential of the Black Sea for the region and together with our partners at NewMed Energy, we have committed to investing in its exploration.

“This is an important moment, which reflects our expertise as a deep offshore operator in the Black Sea region. The drilling campaign includes two wells, and is expected to cost around 170 million euros. Advanced technology and the highest safety standards are essential for our operations.”

The Han Asparuh exploration block in the Western Black Sea in Bulgaria, South of the Neptun block in Romania, has an area of 13,712 squire kilometers with water depths slightly below 2,000 meters.

While exploration activities started in 2012 and entailed geological and geophysical surveys and the drilling of three exploration wells, an extensive 3D seismic campaign was finalized in May 2020 to identify potential drilling targets.

Yossi Abu, CEO of NewMed Energy, stated: “The start of this drilling campaign marks an important milestone for our partnership and for the development of energy resources in the region.

“The Han Asparuh block has significant potential and opens new opportunities for Bulgaria. At the same time, it is an important step in expanding our operations in Southeast Europe.”

OMV Petrom, in partnership with Romgaz, is developing the Neptun Deep project, with estimated volumes of 100 billion cubic meters of gas. The first gas production from this development is expected in 2027.