Breaking Update
NewMed, OMV Petrom to Begin Black Sea Drilling in Late 2025
NewMed Energy and OMV Petrom to start drilling in Black Sea in late 2025. $80 million contract signed for offshore exploration in Han-Asparuh Block.
Jerusalem, 4 August, 2025 (TPS-IL) — Israel’s NewMed Energy and Romania’s OMV Petrom have signed an $80 million rig contract with Noble Corporation to drill two offshore exploration wells in Bulgaria’s Han-Asparuh Block in the Black Sea. Drilling is set to begin in Q4 2025 and is expected to last about two months. NewMed CEO Yossi Abu said the deal marks “one step closer to unlocking the potential we see in this license.”
