Project Profile
Value: US$1.1 billion
Location: Black Sea, off Bulgaria
Area: 14,220 sq. km
Water depth: 100 - 2,000 metres
Total has finalised an exploration deal covering the 14,220 sq km Khan Asparuh license off Bulgaria. Located in waters up to 2,000 metres deep, the Black Sea tract is operated by Total on a 40% stake with OMV and Repsol each with 30% interest. Total will be chasing an oil and gas prospects in an ultra-deepwater abrupt margin play, marking the first time exploration concept has been targeted outside the Atlantic basin.
Operator:
Total: Operator with 40% interest
OMV: 30% interest
Repsol: 30% interest