Southeastern Europe’s integrated energy player OMV Petrom and NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, which have drilled a dry hole in the Bulgarian sector of the Black Sea, are weeks away from drilling another well.
Once NewMed Energy joined the OMV Petrom-operated Han Asparuh ( Block 1-21) in the Bulgarian Black Sea to help the Southeastern European firm advance offshore exploration efforts , the two companies decided to spud the Vinekh-1 exploration well at the Vinekh prospect in Block 1-21, part of Bulgaria’s Exclusive Economic Zone (EEZ).
Noble Corporation’s Globetrotter I drillship came to the country in 2025 to embark on the two-well offshore exploration campaign at the Han Asparuh block. The first well, Vinekh-1, is situated approximately 200 kilometers East of Varna, in water depths of around 2,000 meters.
The well has reached its final depth of approximately 3,230 meters below sea level, with non-significant natural gas shows encountered in the target formations. As a result, Vinekh-1 constitutes a dry hole. The operator, OMV Offshore Bulgaria, is continuing to conduct well-site analyses.
According to NewMed, an additional exploration well in the Krum prospect will target different geological units from those of the Vinekh prospect. The drilling activities at this well are expected to start in the coming weeks, with an estimated duration of approximately two months.
The Han Asparuh exploration block in the Western Black Sea is located south of the Neptun block in Romania, with an area of 13,712 square kilometers. OMV Petrom, in partnership with Romgaz, is developing the Neptun Deep project.
This development has estimated volumes of 100 billion cubic meters of gas. The first gas production from the project is expected in 2027.