INA has signed a Concession Agreement for East Bir El Nus Area (Block WD-8, located in Egypt’s Western Desert) with the Arab Republic of Egypt, the Egyptian General Petroleum Corporation (EGPC) and Energean, as operator. With this INA enters a new concession as 50 % working interest partner, while the remaining 50 % is held by Energean.
This is the end of the process of entering the new concession, which began in March 2022, and which enables INA and Energean to start exploration. Initial exploration period lasts three and half years, and in the case of commercial discovery contract provides production license for 20 years.
Source of information:
INA - Industrija nafte d.d.
Av. V. Holjevca 10, Zagreb
Investor Relations
Tel.: + 385 1 645 0000
Fax: + 385 1 645 2444
e-mail: investitori@ina.hr
web: www.ina.hr