Croatia: INA Adria will be absorbed by INA

, SEE Energy News

INA Adria B.V. emerged following INA’s purchase of 100 % of Eni Croatia B.V. in June 2018 from Italy’s Eni, which thus exited Croatia’s upstream natural gas production sector. Oil company INA announced that it will absorb its Dutch-based subsidiary INA Adria B.V. INA is the sole shareholders of INA Adria, the merger does not need the approval of INA’s shareholders. Any INA shareholder with an ownership stake of at least one twentieth of the share capital has the right to submit a request for convening the general meeting on order to decide on the merger within a period of one months after the publication of the announcement.

In late 2018, INA announced that it has completed the acquisition of two offshore gasfields (Northern Adriatic and Marica) from Eni Croatia BV, local subsidiary of Italian energy company Eni, thus becoming the sole operator of these fields.

The statement from the company said that its daily gas production will increase by some 10 %, which represents an important step in the process of renewing its reserves. Gas produced in the Northern Adriatic gas field will be directed towards Croatia, increasing the security of domestic gas supply, while the gas produced in the Marica field will continue to be exported to Italy, according to the contract signed between the two companies.