NewMed Energy has provided an update on an exploration well in the Vinekh Prospect, located in Block 1-21 Han Asparuh, offshore Bulgaria, in the Black Sea.
The well has reached its final depth of approx. 3,230 meters below sea level. In the target formations, non-significant natural gas shows were encountered. Accordingly, in the Partnership’s assessment, the well constitutes a dry hole.
The operator, OMV Offshore Bulgaria, is continuing to conduct well-site analyses. The Partnership will report once the Operator provides an update regarding the completion of its evaluation. It is further noted that an additional exploration well in the Krum prospect - will target different geological units from those of the Vinekh prospect - is expected to spud as planned in the coming weeks, with an estimated drilling duration of approx. two months. For further details, see the Partnership’s immediate report dated June 11, 2025.
Working Interest in the Bulgaria License: NewMed Energy Balkan Limited – 45%; OMV Offshore Bulgaria GmbH – 45%; Bulgarian Energy Holding EA – 10%
Source: NewMed Energy
