Zagreb, 30 July 2025 – Energean and INA have decided to jointly invest into development of the Irena gas field in the northern Adriatic, which is the part of Izabela exploration block. The total capital investment will amount to EUR 71 million, with Energean contributing EUR 50 million and INA EUR 21 million. Energean holds a 70% working interest in the project, while INA holds the remaining 30%. The operator of the Izabela block is Edina, a 50:50 joint venture between Energean and INA.
The development plan envisages the tie-in of a single platform to the existing infrastructure in the Izabela gas field. Gas production is expected to begin in the first half of 2027, with a maximum daily output of up to 300,000 cubic metres. The estimated reserves at the Irena field amount to approximately 865 million cubic metres of gas, equivalent to about 5.4 million barrels of oil equivalent.
Josip Bubnić, Operating Director of Exploration and Production at INA, stated: “The decision to invest in the development of the Irena gas field is another important step in advancing our strategy of strengthening domestic oil and gas production and ensuring Croatia’s long-term energy security. We are investing with a clear vision – to enhance energy supply security and maintain our leadership position in the region.”
Francesco Federici, Energean’s Country Manager for Croatia, commented: “We are extremely pleased to be moving forward with the development of the Irena gas field. This final investment decision confirms Energean’s commitment to further developing natural resources in Croatia and the wider Adriatic region. This is a strategic investment, and we thank our partner INA for the long-standing successful cooperation and look forward to future shared achievements.”
INA’s Exploration and Production has over 70 years of experience – its portfolio includes exploration and production activities in Croatia and Egypt, with an average daily production of 21,303 barrels of oil equivalent in first half of 2025“
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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