Total made deepwater oil discovery in Bulgarian Khan Asparuh Block

Total oil discovery Black SeaTotal made deepwater oil discovery in Bulgarian Khan Asparuh Block in Black Sea. The company released the first preliminary and non-assessed results for the drilling operations on in May, made by the drillship Noble Globetrotter II. The company is currently under analyzing and assessment of the oil discovery and will consider release the estimated reserves, as well as the profitability of developing the block. The officials from the company did not released more information about the discovery and if there are reserves of natural gas into the field.

Total entered, as operator of the Block 1-21 Khan Asparuh in April 2014, joining partners Repsol and OMV, which entered the block in 2012. The exploration contract for the offshore Khan Asparuh block license was signed in August 2012 and commitment is to drill two exploration wells. Total is the operator of the block with 40% interest and its partners are Austria’s OMV with 30%, and Spain’s Repsol with 30% stake.

Earlier the seismic survey showed proven reserves of oil and gas in the offshore block, but the drilling operator would have to overcome 2000 m water depth and 4000 m of rock to assess the prospect.

The offshore Khan Asparuh Block is located on 45 nautical miles off Bulgarian shore in Black Sea. The block covers 14,220sq km and the license contract includes a commitment to drill two exploration wells.

The Total’s first well in the Black Sea was named Polshkov-1 and is located about 128 kilometers offshore Bulgaria. The exploration campaign lasted for four months.