INA initiates 3-year exploration phase in Croatia's SAVA and DRAVA blocks to explore oil, gas potential

INA has been awarded exploration permits for new onshore exploration blocks SAVA-10/1 and DRAVA-02/02 in the Republic of Croatia.

SAVA-10/1 block covers an area of 1,848 sq km across the Brod-Posavina, Osijek-Baranja, and predominantly Vukovar-Srijem counties in eastern Croatia. The DRAVA-02/02 block spans of 1,732 sq km and includes parts of the Koprivnica-Križevci, Bjelovar-Bilogora, and Virovitica-Podravina counties in northwestern and central Croatia.

During the first exploratory phase, INA will carry out 3D seismic surveys and drilling of exploration wells. This phase for both areas will last 3 years, during which geological and geophysical surveys will be conducted to confirm the potential for discovering new oil and gas reservoirs.

Following the completion of the first exploration phase in the new areas, the contract allows for the extension of the exploration phase for an additional 2 years, during which further exploration activities may be carried out.

Josip Bubnić, operating director of exploration and production at INA said the areas hold "recognized geological potential," and that by aquiring the two new permits, "INA has built the largest exploration and production acreage position in Croatia, in addition to its existing DRAVA-03 block and the non-operated SAVA-07 block."