OMV and partner NewMed Energy have agreed to drill a second exploration well on the Block 1-21 Han Asparuh license in the Bulgarian sector of the Black Sea.
They plan to drill the well on the Krum prospect back-to-back with the first well on the Vinekh prospect, which they expect to complete in the first quarter of 2026.
This will depend, however, on receipt of required approvals from the Bulgarian government and signing service agreements for the operation.
NewMed says Krum is a drill-ready prospect located about 130 km east of the Bulgarian shoreline. The well, in 1,760 m water depth, will target gas in two layers of Pliocene-Miocene age with a planned total depth of about 3,450 m.
The estimated overall cost is about $78 million, excluding production tests.
