Companies to Invest 80 Million Euro at Six Gas and Oil Exploration Sites

By 3 September 2019

ZAGREB, September 3, 2019 - The four companies which were recently chosen by the Croatian government to receive permits for gas and oil exploration and exploitation at six locations in north-western and central parts of the country, are expected to invest about €80 million in the exploration activities in the next five years, the head of the Croatian Hydrocarbon Agency's management board, Marijan Krpan, said on Monday.

The four companies – INA, Crodux Derivati Dva, Vermilion Zagreb Exploration and the Hungarian company called Aspect Croatia – were this past Thursday awarded permits for hydrocarbon exploration and exploitation at the six locations in the interior of Croatia. Thus, the government issued two permits to INA for two locations, and two permits to Crodux, while the other two companies were given one permit each. In late October 2018, the government invited applications for seven sites, and offers have been sent for all but one location.

The companies are expected to drill 25 exploration wells in the next five years.

Energy and Environment Protection Minister Tomislav Ćorić said that Croatia was committed to the exploration and exploitation of gas and oil on its territory.

The exploration activities are due to start in six months' time.

More news about oil industry in Croatia can be found in the Business section.