Are you sure?

Canada’s Vermilion to drill exploration wells in CEE

Canada-based international oil and gas producer Vermilion Energy will drill its first two exploration wells in Croatia in June, followed by others in Hungary and Slovakia, a senior official from the company was cited as saying by news wire Reuters.

Vermilion won four licenses in 2015 for oil and gas exploration in Croatia’s flat northeast areas and the drilling will take place on one of these. Croatia is currently running two new tenders for oil and gas exploration in the north and in the mountainous southern region. They are open until June and September, respectively.

Vermilion also has a presence in Slovakia and Hungary. Bryan Sralla, who heads the unit for Central and Eastern Europe, told Reuters the company plans to drill four wells in Hungary this year, two in partnership with Hungary’s MOL, and four wells in Slovakia in partnership with Slovakian energy company Nafta.

"We see encouraging signs of natural gas potential in these countries," he said, adding that the drilling results were likely to be announced in the early fall.

Sralla added that Vermilion could expand into other CEE countries as the company is evaluating investment opportunities across the region.