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September 28, 2020
Valahia.News
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Business International News Romanian News

OMV Petrom to Complete the Deal for the Acquisition of OMV Offshore Bulgaria GmbH

OMV Petrom, the largest energy company in Southeastern Europe, completed the transaction for the acquisition of 100% of the shares in OMV Offshore Bulgaria GmbH from OMV Exploration & Production GmbH and enters the Han-Asparuh exploration block in Bulgaria, according to a press release. Following Repsol’s exit, the Bulgarian regulator approved the allocation of Repsol’s 30% participating interest to the remaining two partners.

Thus, OMV Petrom’s share in the block, via OMV Offshore Bulgaria GmbH, is now 42.86%, alongside Total (57.14%) being the operator.

Peter Zeilinger, member of OMV Petrom Executive Board, responsible for Upstream:

“This acquisition is an important step in our strategy to expand our Upstream operations in the region. OMV Petrom has been active in the Black Sea for over four decades as operator and has gained valuable deep water experience as non-operator in the adjacent Neptun Deep license in Romania”.

Peter Zeilinger, OMV Petrom

OMV Petrom is the largest contributor to the state budget, with contributions of 30.4 billion euro in taxes and dividends paid between 2005 and 2019.

Photo: OMV Petrom, all rights reserved

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