Start of gas production on the Izabela field in the Adriatic Sea

abarrelfullabarrelfull wrote on 05 Jul 2014 07:07
Tags: croatia edison europe ina mol offshore upstream

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MOL Plc. is pleased to announce that INA-Industrija nafte, d.d. and Edison International S.p.A. started the production on the Izabela field in the northern part of Adriatic Sea upon agreeing on the final outstanding issues by which all the preconditions for the beginning of the gas exploitation have been fulfilled.

Total 2P reserves of the Izabela gas field are estimated at around 1.4 billion cm (8.5 MMboe) of gas, while the expected peak production is at the level of around 280 million cm per year (4.5 mboepd). Production will be divided between the partners INA and Edison in accordance with the Production Sharing Agreement. INA possesses 30% working interest in the project.

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