Romanian oil and fuel firm OMV Petrom is the successful bidder for an oil and fuel exploration block positioned within the Black Sea, offshore Georgia.

OMV Petrom stated on Monday it has been chosen because the winner of the open worldwide tender held by the Ministry of Economy and Sustainable Development of Georgia for the Offshore Block II.

Peter Zeilinger, member of the Executive Board, liable for Upstream: “We proceed our plans to broaden our upstream actions within the Black Sea area. This is one other milestone, after signing a contract to enter the Han Asparuh exploration license in offshore Bulgaria.

“It is a pure continuation of our greater than 40 years of expertise within the Romanian Black Sea waters”.

The block can be formally awarded provided that negotiation of a Production Sharing Contract is efficiently finalized.

If so, OMV Petrom will acquire the rights to conduct oil and fuel exploration actions in Block II.

The Block II is positioned on the shelf and inside the financial zone of the Georgian offshore Black Sea. It covers a complete space of 5,282 sq. km.

Elsewhere within the Black Sea, OMV Petrom has exploration, improvement and manufacturing operations within the shallow waters (Istria block) and exploration actions in partnership with ExxonMobil in deep-water areas (Neptun Deep).

The put up OMV Petrom snatches recent Black Sea block appeared first on Offshore Energy.

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