One stuntman was killed and another one seriously injured in an explosion the set of action film The Expendables 2 in Bulgaria, the movie's production company said on Friday.

The stuntmen were part of a team that was filming scenes on Thursday at Lake Ognyanovo, a reservoir in Southwest Bulgaria, for the movie that stars Bruce Willis, John Travolta and Arnold Schwarzenegger, among a cast of high-profile Hollywood stars.

It is with great regret that we confirm this unfortunate accident. Our hearts go out to the families and those on the production affected by this tragedy. The filmmakers are working closely with the authorities in responding to and investigating this accident, production company Nu Image/Millennium Films said in a statement.

The name of the deceased man was not released.

Expendables 2 is the sequel to the 2010 box office hit about a team of mercenaries hired to kill a corrupt military man. The sequel is due for release in summer 2012 by the film division of Lions Gate Entertainment Corp.