MOL Group starts production on Croatian assets

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MOL Group said it has successfully started its test production in two of its gas fields in Croatia.

The company’s subsidiary INA has made the move on the Vuckovec and Zebanec fields as part of its Medimurie project.

At a third field, Vukanovec, production is expected to start early 2017.

INA has invested $64million in the project.

Five production wells were drilled and equipped along with a total of 100kilometres of new pipeline.

Dr Berislav Gašo, MOL Group’s exploration and production COO commented: “The Međimurje project, along with our comprehensive production optimization program in CEE, is yet another important part of MOL Group’s efforts to maximize 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 2,000 barrels of oil equivalent per day will keep onshore hydrocarbon production in Croatia on its growing trend.”