June 26 (SeeNews) - Romania's top oil and gas group OMV Petrom [BSE:SNP] has won a tender for the Black Sea block II license in Georgia, the country's State Agency of Oil and Gas said on Friday.
Before starting drilling, OMV Petrom will carry out two-and three-dimensional seismic exploration works on the perimeter, the agency said in a post on social media. Drilling costs will depend on the exploration results, it added.
The agency said that the cost of the similar 'Domino-1" project in Romanian territorial waters, belonging to OMV Petrom, was $1.5 billion (1.34 billion euro).
In December 2019, OMV Petrom has signed a contract to acquire a stake in the Han Asparuh exploration licence in Bulgaria. OMV Petrom acquired the participation held by OMV Offshore Bulgaria in the Han Asparuh exploration licence in Bulgaria by acquiring all its shares from OMV Exploration & Production. The transaction is expected to be concluded in mid-2020.
OMV Petrom is the largest energy company in Southeast Europe, with an annual group hydrocarbon production of 55.4 million boe in 2019 and a refining capacity of 4.5 million tons annually. The group is also present on the oil products retail market in Romania and neighboring countries through 800 filling stations, at the end of March 2020, under two brands – OMV and Petrom.
Austria-based OMV Aktiengesellschaft holds a 51.011% stake in OMV Petrom. The Romanian state, through the energy minister, owns 20.639% of OMV Petrom, Fondul Proprietatea holds 9.998%, and 18.352% is the free float on the Bucharest Stock Exchange and the London Stock Exchange.
OMV Petrom's shares were trading 0.62% lower to 0.32 lei ($0.07/ 0.07 euro) on Friday on the Bucharest Stock Exchange as at 13:59 CET.
($=0.891 euro)