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Turkish Petroleum Overseas Company Limited (TPOC), a subsidiary of Türkiye's state-owned Turkish Petroleum (TPAO), is taking a 33% stake in Bulgaria's Khan Tervel Block 1-26 offshore oil and natural gas exploration project, local media reported.
The Council of Ministers approved a partial transfer of Shell's license rights, allowing the company to retain a 42% interest in the project, while Romania's OMV Petrom will hold the remaining 25%, according to bnrnews.bg.
The Khan Tervel Block 1-26 lies in Bulgaria's exclusive economic zone in the Black Sea, just south of the Khan Asparuh block and close to Türkiye's Sakarya Gas Field. The exploration license, granted to Shell in 2025, covers an area of about 4,000 square kilometers and runs for an initial five-year term.
The partners will initially focus on acquiring and analyzing 3D seismic data to assess the block's hydrocarbon potential. Based on the results, they will decide whether to move ahead with exploration drilling.
Shell signed the exploration agreement with the Bulgarian government in April 2025 after winning the license in a competitive tender.
TPAO joined the project in February 2026 under a partnership agreement with Shell, while Romania's OMV Petrom agreed a month later to acquire a 25% interest.
Separately, the Bulgarian government approved a pre-feasibility study by state gas transmission operator Bulgartransgaz for a planned NATO fuel pipeline linking Greece and Türkiye with Romania via Bulgaria. NATO will provide €10 million ($11.5 million) to finance the study.
The proposed pipeline is designed to strengthen NATO's logistics network on its southeastern flank by creating a dedicated land-based route for transporting military fuel, including aviation fuel and diesel, to allied forces.
The proposal, first put forward by Türkiye earlier this year, is expected to become part of NATO's broader effort to reinforce military mobility and fuel supply infrastructure across Eastern Europe amid heightened regional security concerns following the Iran conflict.
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