Zagreb, 31 March 2026 – INA, d.d. has signed a binding agreement with Vermilion Zagreb Exploration d.o.o. (Vermilion) to acquire a 60% stake in the onshore exploration area SAVA-07, thereby increasing INA’s ownership to 100% in that area.
Prior to signing the agreement, INA held a 40 % stake in the SAVA-07 exploration area. Following the transaction, INA will acquire the remaining 60 % stake from Vermilion and assume the role of operator. Approval from the Government of the Republic of Croatia for the completion of the transaction, valued at approximately EUR 15 million, is expected in mid-2026.
INA and Vermilion have been partners in this exploration area, which is mostly located in Sisak-Moslavina County, since 2024, and within the first phase of exploration, four commercial hydrocarbon discoveries were achieved with the wells Zbjegovača-1I, Međurić-1I, Gojlo-1J, and Piljenice-1. In addition, the SAVA-07 area contains the INA’s earlier commercial discovery Gojlo-1I, which is also ready to be brought into production. Total new reserves are estimated at approximately two million barrels of oil equivalent. Ahead of us are investments worth around 60 million euros in the construction of the production system and the connection of wells to existing infrastructure to bring them into production, as well as the continuation of further research within the second exploration phase.
Josip Bubnić, Operating Director of Exploration and Production at INA, stated: “By acquiring a 60% stake in the SAVA-07 exploration area, we are further strengthening our portfolio in Croatia and reaffirming our long-term commitment to domestic production. We have invested more than 491 million euros in exploration and production activities over the past five years. In the exploration area we are taking over today, we already have commercial gas and oil discoveries, and we will work in partnership with regulatory bodies to bring these sources into production as quickly as possible. In addition, we are continuing with investments in drilling four new exploration wells in this area and believe in the continuation of successful results.”
INA’s oil and gas production remained stable in 2025, supported by production optimization programs, well workovers, and the start of the production of the development wells Jamarice 183 and IKA-A1. In 2025, INA produced 588.25 million cubic meters of natural gas and 463,685 tonnes of oil, with an average daily production of more than 21,400 barrels of oil equivalent. Production takes place at 39 oil and 27 gas fields, onshore and offshore.
About INA Group
INA Group plays a leading role in the Croatian oil business and holds a significant position in the region in oil and gas exploration and production, oil refining, and distribution of oil and petroleum products. The company consists of several subsidiaries wholly or partially owned by INA, d.d. The Group is headquartered in Zagreb, Croatia. In the field of oil and gas exploration and production, INA currently operates in Croatia and Egypt. Oil refining takes place at the Rijeka Refinery, while the Sisak industrial site is being transformed into a hub for sustainable alternative activities. The regional retail network includes more than 500 service stations in Croatia and neighbouring countries. INA Group is a member of the MOL Group.
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