POST Online Media Lite Edition



 

Eni, Rockhopper awarded an exploration license in Croatia

Staff writer |
Eni was awarded an exploration license within the Croatian First Offshore Licensing Round. The License is referred to Block 9, which is situated in the Adriatic Offshore.

Article continues below






This is a region where Eni is the exploration and production leader, having operated for several decades on both the Italian and Croatian sides.

Eni will get a 60% participating interest and the role of operator, in partnership with Rockhopper (40%). The assignment will be formalised upon the signature of the Production Sharing Agreement, foreseen by April 2015.

Eni has been active in Croatia since the 1980s. At present, through its fully owned subsidiary Eni Croatia B.V., it operates jointly with INA's two exploration and production licenses located in the Adriatic offshore, where it holds a 50% participating interest.

Croatia has an estimated 71 million barrels of proven oil reserves, producing around 11,900 barrels of oil per day as of 2013. Natural gas reserves are estimated at 800 billion cubic feet, with production at around 65 billion cubic feet per day.


What to read next

Sea Lion oil project break-even price reduced to $45 a barrel
New interesting Statoil discovery near Norne
Falklands' Isobel Deep well with good prospects of finding oil