MOL starts production at new Croatian gas fields

MOL’s Croatian subsidiary INA has successfully started its test production in two of its gas fields in Croatia, following a US$64 million investment program in the Medimurje project.

INA has begun the test production of gas at two of its fields, Vuckovec and Zebanec, as part of its Medimurje project. At the third field, Vukanovec, production is expected to begin in early 2017.

Incremental production is estimated at around 2000 boe/d in H2 2016 on average and it is expected to further increase in 2017.

INA has invested US$64 million  in the project. Five production wells were drilled and equipped along with a total of 100 km of new pipeline. Cumulative yield of gas is estimated to be at around 1 billion m3 and the vast majority is to be exploited by 2024.

An additional main objective is that the carbon dioxide that is being extracted from the fields in the Medimurje project will be transported to the Žutica and Ivanic oil basins via pipeline. It will then be reinjected into the ground in the frame of INA’s ongoing EOR project.

Dr. Berislav Gašo, MOL Group’s E&P COO commented: “The Medimurje project, along with our comprehensive production optimisation program in CEE, is yet another important part of MOL Group’s efforts to maximise the extraction of profitable barrels of hydrocarbons, which helps to ensure that our portfolio is creating value even in the current oil price environment. The expected incremental production of around 2000 boe/d will keep onshore hydrocarbon production in Croatia on its growing trend.”

source: energyglobal.com