Spanish company Repsol has sold its stake in the Han Asparuh block in Bulgaria's Black Sea section to its partners OMV and Total, Economica.net reported. This means that Romanian group OMV Petrom, which will take over OMV's stake in this block, has consequently increased its stake.

At the end of 2019, OMV Petrom announced that it would take over OMV's stake in this perimeter.

In February 2020, company officials said it would pay the parent group OMV about EUR 27 million for its stake in OMV Offshore Bulgaria, the company that owns the concession. The transaction, which has several suspensive clauses, was not completed at that time.

Following the latest deal, OMV's stake, to be taken over by OMV Petrom, increased to 42.86%, and that of the French company Total, which is also the block's operator, increased to 57.14%.

The Han Asparuh block is located in the western part of the Bulgarian Black Sea area, is very deep, and covers an area of ​​about 14,200 square kilometers, with a depth of up to 2,200 meters.

editor@romania-insider.com

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