INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica. As a result, INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months.
The transaction covers 4.3 mmboe proven and probable reserves and would increase production by around 2,500 boepd (or nearly 380,000 m³ of gas per day). INA will also become, for the first time in its history, the sole operator of offshore fields. This will also allow INA to carry out further investment in the Northern Adriatic and Marica areas.
Following the transaction, all gas produced in the Northern Adriatic concession area will be directed towards the Croatian supply system. The gas produced in the Marica area will continue to be transported to Italy, under a gas sales contract signed by INA and Eni.
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
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