OMV Petrom will pay OMV Exploration & Production about 27 million euro for the acquisition of the shares held by OMV Offshore Bulgaria, the company that holds Austrian participation in the Han Asparuh exploration perimeter in Bulgaria, the chief financial officer of Petrom, Alina Popa, announced, according to Profit.ro.

“Although the contract was signed, the transaction has not yet been concluded, being conditioned by the fulfillment of certain suspensive conditions. As a result, no price has been paid yet,” added the OMV Petrom official. According to a statement of the company, the transaction would be completed by the middle of the year. OMV Offshore Bulgaria GmbH currently holds a 30% stake in the deep sea exploration perimeter Han Asparuh, west of the Black Sea, as part of a joint venture led by Total, as operator.