The state-owned company will pay its proportional share of costs for drilling preparations and operations.
In the new partnership structure, OMV Petrom remains operator with a 45% stake, NewMed Energy holds 45%, and BEH holds 10%. Exploration drilling started in December 2025 and is ongoing, with the drilling vessel Noble Globetrotter I contracted to drill two exploration wells.
"This partnership reflects a shared commitment to unlocking the Black Sea's potential as a reliable regional energy source in a safe manner," said Cristian Hubati, Member of OMV Petrom's Executive Board, responsible for Exploration and Production. "Our participation into Han Asparuh extends our deepwater portfolio and strengthens regional collaboration in the Eastern Mediterranean and Black Sea," said Yossi Abu, CEO NewMed Energy.
"By joining the joint venture, Bulgaria takes an active role in exploring its offshore resources and enhancing national energy security. Moreover, such projects can make a contribution to the economy," said Valentin Nikolov, CEO of BEH.
A study by EY, commissioned by OMV Petrom and NewMed Energy, shows that unlocking the natural gas potential in the Bulgarian Black Sea could generate benefits for the country's economy and energy security. According to the analysis, every €1 billion invested in offshore projects could deliver up to €5.2 billion in GDP and €1.5 billion in state revenues.
