Croatia: INA Oil company, New contracts provide 30% more gas production

22. January 2014. / SEE Energy News

Already in 2016, Ina will increase gas production by 30 percent, it was said in Cakovec, at the signing of four agreements worth 240 million kunas, which Ina has signed with a consortium of local companies.

Works on the project Medjimurje should begin in February, which includes the production of gas in gas fields Vukanovec, Vuckovec and Zebanec, where the exploitation of one billion cubic meters of hydrocarbons is planned. Contracts with INA CEO Zoltan Aldott are signed by two consortiums, led by the company STSI, a member of a group Ina, and two led by Koncar – engineering for energy and transport, and Djuro-Djakovic Holding.

– Project Medjimurje is one of the major investment projects of Ina, whose value exceeds 360 million kunas, with the already invested an additional 60 million the previous years. Planned commercially recoverable quantities of natural gas are about one billion cubic meters, which is, for comparison, more than a third of the total annual amount needed to Croatian consumers – said Z. Aldott, adding that they invested 3.2 billion kunas in local projects since 2009, and in the first nine months of last year 800 million were invested in exploration and production.

After signing the contract, Economy Minister Ivan Vrdoljak said that many such events are going to happen in Croatia.

Start of production of natural gas in three wells of Medjimurje are scheduled for next year. It is interesting that since the discovery of natural gas wells at the signing of the contract it has been more than 20 years! This, Vrdoljak said, must not be repeated, Ina produces about half of the gas needed for the domestic market and the rest is imported.

Source; Serbia Energy See Desk

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