Romania's leading integrated energy company, OMV Petrom, and its partners have completed drilling the Krum-1 exploration well offshore in Bulgaria's Han Asparuh block but did not discover significant natural gas reserves.

The well reached a depth of approximately 3,500 meters below the seabed of the Black Sea, marking the second exploration well completed in the block following the Vinekh well.

Drilling operations commenced in February using the "Globetrotter I" ultra-deepwater drillship owned by Noble Corporation.

OMV Petrom stated that two wells have been drilled since December 2025, and the data collected will enhance the understanding of the basin's geology, as exploration in the deepwater areas of the Black Sea is still in its early stages.

Cristian Hubati, Member of the Executive Board of OMV Petrom responsible for Exploration and Production, said, "We remain committed to our exploration strategy and continue to pursue opportunities offshore Bulgaria, recognizing the significant potential of the Black Sea basin. We recently signed a farm-in agreement with Shell and TPAO for exploration in the Han Tervel block and look forward to a successful collaboration."

Under the license terms, NewMed Energy and OMV Offshore Bulgaria, a subsidiary of OMV Petrom, each hold a 45% working interest, while Bulgarian Energy Holding holds the remaining 10% interest.

The company indicated that these results will inform future exploration activities in the region.