Total has signed the exploration contract with the Bulgarian government for the offshore Khan Asparuh license, awarded under the licensing round that opened last January 31. The 14,220 km2 block is located approximately 80 km offshore in the Black Sea in water depths of between 100 and 2000 m.
Total has signed an agreement to allow two other European companies to work on the permit, Austria’s OMV (30%) and Spain’s Repsol (30%), with Total retaining a 40% stake.
“Total’s international experience in deep-offshore exploration and production was a decisive factor in winning the license,” said Marc Blaizot, Total’s Senior Vice President, Exploration.
Adapted from press release by Peter Farrell.