OMV Petrom and Bulgaria Join Han Asparuh Offshore Exploration Consortium
OMV Petrom S.A., the Romanian energy company operating in exploration and production, refining and marketing, and gas and power, has entered a joint venture to develop the offshore Han Asparuh gas field located in the Bulgarian sector of the Black Sea. The consortium, which includes the state-owned Bulgarian Energy Holding (BEH), has secured a 10 % participation for BEH. OMV Petrom will collaborate with other partners in the exploration and production phase of the project.
The Han Asparuh field, positioned offshore Bulgaria, is expected to contribute to the region’s natural gas supply. OMV Petrom’s involvement aligns with its strategy to expand its portfolio in the Black Sea area and to strengthen its presence in the southeastern European gas market. The partnership demonstrates the company’s commitment to developing offshore resources in partnership with national energy entities.
Company Context
- Market capitalization: €14,331,636,736
- Last closing price (2026‑01‑22): €0.23
- 52‑week high: €0.34 (2026‑01‑14)
- 52‑week low: €0.1169 (2025‑03‑24)
- Price‑earnings ratio: 21.94
OMV Petrom operates through three main segments:
- Exploration and Production – onshore and offshore oil and gas.
- Refining and Marketing – production and distribution of gasoline, diesel, and other petroleum products via the Petrobrazi refinery.
- Gas and Power – electricity generation, gas and power sales, and operation of gas‑fired power plants.
The company was founded in 1857 and is headquartered in Bucharest, Romania. OMV Petrom is a subsidiary of OMV Aktiengesellschaft.
Strategic Implications
The consortium’s focus on the Han Asparuh perimeter supports OMV Petrom’s objectives to secure new gas reserves and to diversify its upstream operations in the Black Sea. By partnering with BEH, the company gains access to a strategic location within Bulgaria’s exclusive economic zone, potentially enhancing its gas production capacity and market reach in southeastern Europe.
No further operational details have been disclosed at this time regarding drilling schedules, investment commitments, or projected production volumes. The partnership is a step toward expanding OMV Petrom’s offshore activities and strengthening its role in the regional energy sector.
