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INA completes purchase of Eni’s share in two offshore gas fields

INA completes purchase of Eni’s share in two offshore gas fields Author: INA. License: All rights reserved

ZAGREB (Croatia), November 16 (SeeNews) - Croatian oil and gas company INA [ZSE:INA] said it has completed the acquisition of Eni Croatia BV, a wholly-owned member of the Eni Group, becoming the sole operator of the Northern Adriatic and Marica offshore gas fields.

INA's daily gas production will increase by about 10%, which represents an important step in the process of renewal of reserves, the company said in a filing to the Zagreb Stock Exchange on Thursday.

Gas produced in the Northern Adriatic concession area will be directed towards the Croatian supply system, increasing the security of domestic gas supply, while the gas produced in the Marica area will continue to be exported to Italy, under a contract signed by INA and Eni, the Croatian company said.

The transaction covers 4.3 million barrels of oil equivalent (mmboe) of proven and probable reserves and would increase production by around 2,500 barrels of oil equivalent per day (boepd), or nearly 380,000 m³ of gas per day, INA said in June.

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