Hungarian oil and gas group MOL said it plans organic capital
expenditures of $162 million (145.6 million euro) in Croatia in 2015.
In
Croatia, MOL owns 49.08% of integrated oil and gas group INA with
the Croatian government controlling a further 44.84%. In September 2013, the two
sides launched talks to renegotiate the terms for the company's
management.
In 2014, MOL invested $146.9 million in exploration and
development activities in Croatia.
INA’s firm goal is to stop natural
decline and putproduction in Croatia on a growing trend from 2015, the
Hungarian company said on its website.
2015 will bring finalisation of
the first phase of major Enhanced Oil Recovery projects in Croatia and
continuation of the successful production optimisation
programme.
Onshore, INA plans to conduct this year numerous well
workovers and hydraulic fracturing works on mature onshore fields as well as to
drill four new exploration wells and test another two.
In offshore
operations, following the start of production on Izabela and Ika SW wells in
2014, INA plans further development activity to stabilise production.
INA
has exploration and production operations in Croatia, Africa and the Middle East
and operates a filling station network on its home market and in neighbouring
countries.