Zagreb, 31 January 2025 – As a part of the 1st exploration phase in the onshore block SAVA-07 four exploration wells were drilled in 2024 and all four found hydrocarbons. Well test was successfully completed for the three wells while final well test is currently in progress. Operator on the SAVA-07 block is Vermilion Zagreb Exploration and INA is partner with 40 percent of interest.
Very succesful 1st exploration phase in the onshore block SAVA-07 is finished with four hydrocarbons discoveries. Zbjegovača-1I well discovered oil and gas with 50m³/d oil rates and 7240 m³/d gas rates achieved during the well test. Međurić-1I well discovered multiple gas reservoirs with 129.746 m³/d gas rates while Gojlo-1J well discovered gas with 82.293 m³/d gas rates during testing period. Piljenice-1 well encountered significant gas column in the deeper reservoirs and well testing operations are currently ongoing. So far, notice of commercial discovery was sent to Croatian Hydrocarbon Agency for Zbjegovača-1I, Međurić-1I and Gojlo-1J wells.
In March 2024 INA and Vermilion Zagreb Exploration have signed an agreement for cooperation on the exploration block SAVA-07 (SA-07). Vermilion retained 60 percent of the share and maintained its position as operator on the block, while INA gained non-operated 40 percent.
“Signing of the partnership agreement with Vermilion was a great step forward for expanding INA exploration portfolio in Croatia and we are very pleased that drilling results so far proved that it was a good decision. Our focus will now be on efficient field development plan fully utilizing existing synergies and INA nearby infrastructure while as the partnership group we shall continue working with the regulatory bodies to bring new discoveries into production as soon as possible which would contribute to the energy security of Croatia. We are also looking forward to continuing exploration drilling success during the 2nd exploration phase in the next two years” said Josip Bubnić, Exploration and Production Operating Director at INA.
“We are very encouraged with the results from our exploration drilling program in Croatia, which have proven up multiple producing zones and de-risked future development and exploration targets across four discrete areas on the SA-7 block. We are very pleased to have INA as a partner and look forward to working with them as we advance the field development plan and continue with future exploration drilling.” said Marius Nowak, Managing Director at Vermilion Zagreb Exploration.
In the upcoming period partnership will work on joint field development plan to expedite start of the production and leverage existing INA nearby facilities. Also, both companies agreed to proceed with the 2nd exploration phase where new exploration activities are expected in 2025 and 2026.
INA Group plays a leading role in oil operations in Croatia and an important role in the region in oil and gas exploration and production, oil refining and distribution of oil and petroleum products. The company comprises several subsidiaries fully or partial owned by INA, d.d. The Group’s seat is in Zagreb, Croatia. INA has upstream operations in Croatia and Egypt. Oil refining takes place at the Rijeka Oil Refinery, while sustainable alternative businesses are being developed at the Sisak industrial site. INA’s regional retail network consists of more than 500 retail outlets in Croatia and neighbouring countries. INA Group is a member of MOL Group.
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Phone: 01 6450 552| @: pr@ina.hr
About Vermilion
Vermilion is an international energy producer that seeks to create value through the acquisition, exploration, development and optimization of producing assets in North America, Europe and Australia. The Company’s business model emphasizes free cash flow generation and returning capital to investors when economically warranted, augmented by value-adding acquisitions. Vermilion’s operations are focused on the exploitation of light oil and liquids-rich natural gas conventional and unconventional resource plays in North America and the exploration and development of conventional natural gas and oil opportunities in Europe and Australia. Vermilion’s priorities are health and safety, the environment, and profitability, in that order. Nothing is more important than the safety of the public and those who work with Vermilion, and the protection of the natural surroundings. In addition, the Company emphasizes strategic community investment in each of its operating areas.
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Phone: 1-866-895-8101 | @: investor_relations@vermilionenergy.com