OMV Petrom Enters Bulgarian Black Sea with 25% Stake in Khan Tervel Gas Block

OMV Petrom has announced that it will join the consortium exploring the offshore Khan Tervel gas block in the Bulgarian sector of the Black Sea, marking a significant expansion of its footprint in a region of growing strategic importance for Europe’s energy security. The Romanian oil and gas company, controlled by Austria’s OMV, is among Southeastern Europe’s largest energy producers. Under the agreement, OMV Petrom will acquire a 25% stake in the project, pending regulatory approval from Bulgarian authorities....