OMV Petrom and NewMed Energy Balkan Secure Rig Contract for Black Sea Drilling Campaign

Romania-headquartered affiliate of Austria’s OMV, OMV Petrom, and NewMed Energy Balkan, a subsidiary of Israel’s NewMed Energy, have inked a rig contract with U.S.-based offshore drilling player Noble Corporation for a drilling assignment in the Black Sea, offshore Bulgaria.

As disclosed by OMV, Noble Corporation’s Globetrotter I was selected to drill two wells on the Han Asparuh Block it operates in the Bulgarian sector of the Black Sea. The drilling campaign is expected to start in Q4 and last approximately four months. The value of the rig contract amounts to around $80 million.

Additionally, associated work will be carried out by Halliburton, which was entrusted with integrated drilling services, and SLB, which was put in charge of the well testing services. OMV expects the total drilling budget to reach approximately EUR 170 million.

“We are excited to move forward with this important phase of our exploration program in Bulgaria,” said Cristian Hubati, member of the OMV Petrom Executive Board, responsible for Exploration and Production. “This contract underscores our commitment to investing in the region’s energy potential and to working closely with local authorities and stakeholders to ensure safe, efficient, and environmentally responsible operations.”

The 2011-built Globetrotter I is an ultra-deepwater drillship. Constructed at STX Shipbuilding & Huisman, the rig has a maximum drilling depth of 40,000 feet, or around 12,192 meters, and can operate in water depths of up to 10,000 feet, or about 3,048 meters.

It previously worked with an undisclosed company on a drilling assignment in the Gulf of Mexico/America. According to Noble’s fleet status report from April, this was supposed to end in May 2025, or October if the five priced options are exercised.

“We are excited about the opportunities NewMed has in Bulgaria alongside our partners and remain committed to advancing drilling operations in the license we hold together with OMV Petrom. The agreement announced today brings us one step closer to unlocking the potential we see in this license,” noted Yossi Abu, CEO of NewMed Energy.

Han Asparuh is a 13,712-kilometer-square exploration block located in the western Black Sea in Bulgaria, south of OMV Petrom’s Neptun Deep block in Romania. Exploration activities at Han Asparuh started in 2012, encompassing geological and geophysical surveys and drilling of three exploration wells in the western Black Sea.

After making its intention to farm into the block known in November 2024, NewMed officially joined the project in March 2025 as a 50% partner. Later that month, the Israeli player disclosed that the Vinekh-1 exploration well would be drilled in Han Asparuh’s Vinekh prospect by the year’s end.

A few months later, another well was added to the partners’ drilling agenda in Bulgaria, the Krum-1 exploration well in the Krum prospect.