JULY 26 2012 18:22h
INA has reported that it found new crude oil deposits within the exploration of the Zutica field near the town of Ivanic Grad east of Zagreb, and according to the first estimates this new oil well called Herastilnica-3 is likely to give 320 cubic metres of oil and 45,000 cubic metres of gas daily.
The director of the company's oil exploration and production department, Zelimir Sikonja, said at a news conference at the INA facilities at Zutica that more precise estimates would be available by the end of this year.
It is believed that this gas and oil reservers from this area could be exploited between 20 and 25 years. The production can start in three or four years' time.Sikonja believes that it may give between 100 and 150 tonnes of oil daily.
The installation of production equipment in the new well will cost tens of millions of kuna, and exploration of the well requires HRK 30 million.
There are about 100 oil wells in the Zutica field that produce between 100 and 150 tonnes of oil per day, and the newly-discovered holdings at the Hrastilnica 3 area appear to be able to produce as much.
INA's total annual production of oil from Croatia's sources is 500,000 tonnes annually, which currently covers 15 percent of Croatia's consumption, (Hina)