en.Wedoany.com Reported - INA Group (a member of MOL Group), headquartered in Zagreb, has discovered natural gas in the first well of its multi-well drilling campaign in the Northern Adriatic gas field off the coast of Croatia, with tests showing a gas flow rate of approximately 160,000 cubic meters per day.

This development drilling campaign, with a total investment of approximately 65 million euros, covers five new natural gas wells. The first well, Ana-4 DIR, located in the existing Northern Adriatic production gas field, has now been completed. The well has a total depth of 1,282 meters, and initial tests indicate a natural gas flow rate of approximately 160,000 cubic meters per day from three reservoirs. Drilling operations were carried out by the Labin rig, operated by employees of INA's service company CROSCO.

Preparations are currently underway to connect the Ana-4 DIR well to the surface production system for an extended well test. This test aims to clean the reservoir, detail its production potential, and collect key data to support the preparation of reserve reports. The company stated that the successful completion of the first well is a significant milestone for this campaign, confirming the remaining natural gas potential of the offshore fields, which INA will continue to develop in the coming years, thereby contributing to the security of natural gas supply for the Republic of Croatia. The company also emphasized that the drilling and completion of the well were carried out without incident, in line with the highest industry and engineering practices, as well as health, safety, and environmental standards.

The Labin rig is now being towed to the new IKA JZ-6 DIR location, and INA will continue to implement its development drilling plan. Meanwhile, INA has signed a new 500 million euro multicurrency revolving credit facility agreement with a five-year term and two one-year extension options, which can be used for general corporate purposes, including acquisitions. The 300 million euro revolving credit facility agreement signed in October 2022 (later increased to 350 million euros) will be canceled. Zsuzsanna Ortutay, Chairman of the INA Management Board, stated that this revolving credit facility enhances INA's financial stability and provides greater flexibility for daily operations and investment planning.