OMV joins Shell, TPAO in Black Sea exploration block

OMV Petrom agreed to join an offshore exploration project in the Bulgarian sector of the Black Sea alongside Shell and Türkiye Petrolleri (TPAO).

Under a farm-in agreement, OMV will acquire a 25% stake in the Han Tervel block, joining Shell as operator with a 42% interest and a TPAO subsidiary with 33%, subject to regulatory approval from the Bulgarian government.

The Han Tervel exploration license was awarded in 2025 for an initial five-year term. The block covers approximately 4,000 sq km and is located south of the Han Asparuh block in the Bulgarian Black Sea.

As part of the initial work program, the partners plan to acquire and analyze 3D seismic data to evaluate the subsurface potential of the block. Based on the results, the consortium will assess the possibility of future exploration drilling.