INA signs contract related to Croatian gas extraction project
Croatia-based oil company INA, a unit of oil-and-gas company MOL, signed contracts worth a combined HRK 240 million (€31.5 million) with four consortia of Croatian companies related to the Međimurje county gas extraction project on Tuesday.
Two of the consortia are headed by INA group subsidiary STSI and two by Koncar: Inzenjering za energetiku i transport and Duro Dakovic Holding.
The Međimurje project will bring to production three gas fields: Vučkovec, Vukanovec and Zebanec, whose commercially recoverable hydrocarbon reserves are estimated to around 1 billion of cubic meters. According to INA board chairman Zoltán Áldott, the total value of the Međimurje project is approximately HRK 360 million, including the HRK 60 million invested in previous years.
As a result of the investments, INA will cover more than one-third of the country's gas needs from the Međimurje region; INA has invested HRK 3.2 billion in Croatian projects since 2009, including HRK 800 million invested in the first nine months of 2013, Áldott said.
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