Jul 12 - INA Reports New Oil Discovery in the Pannonian Basin

Source Press Release
Company INA Group 
Tags Exploration, Upstream Activities
Date July 26, 2012

INA reports that in the exploration field Zutica, near Ivanic Grad, oil has been discovered in two reservoirs of the Hrastilnica-3exploratory well. During drilling at a depth of about 2,000 meters test results indicate significant production of oil and gas. More precise evaluation of the hydrocarbons reserve base and production are to be determined by further tests and field development. Latest test data show daily oil production of approx. 1,450 bbl. Given the results of the previously tested Selec-1 wells, it is expected that their daily production will significantly contribute to the production increase in this area.

After the discovery of new oil field with Selec-1 well, this discovery is the second positive result in a row that came as a result of implementing the Pannonian basin exploration strategy, stated INA. Exploration strategy for Pannonian basin is based on the search for new so-called satellite fields in the Sava Depression, near the existing fields. 

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