Officials from Croatia’s economic ministry meanwhile called US interest in purchasing a share of INA as “speculation.”
Currently, 49.08% of INA is owned by its Hungary-based peer MOL; another 44.84% of the company is in Croatian state ownership, with private and institutional investors holding the remaining 6.08%. MOL and the Croatian government are at odds concerning management rights and the gas business of INA, and INA’s board said two weeks ago that MOL had made a request to open a due diligence data room in preparation for the possible sale of its stake in the company.
MOL Pakistan to boost Tal Block production 20%
MOL representatives also announced yesterday that the inauguration of a gas processing facility in Pakistan would boost production of a block there in which it holds a stake by 20%. Inauguration of the $225 million facility is expected to raise production of the Tal Block by about 20% from 2013 levels.
MOL statistics say combined incremental daily production of the block stands at 5,830 barrels of oil equivalent of natural gas, 7,500 barrels of crude oil/condensate and 2,520 barrels of oil equivalent of LPG.
MOL Pakistan is the operator of the Tal Block and holds an 8.42% operating interest in development projects.
— material from national news service MTI was used in this report
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