Ina Completed Purchase of Eni’s Share in Northern Adriatic Offshore Gas Fields

Source Press Release
Company ENIINA Group 
Tags Corporate Deals, Deals, Upstream Activities
Date November 15, 2018

Following the 20 June 2018 announcement regarding the purchase of Eni Croatia B.V., INA hereby announces that all the required conditions have been fulfilled and the transaction was completed today by executing the Share Transfer Deed between  Eni International B.V. and INA for the purchase of  Eni Croatia B.V. By executing the Share Transfer Deed, INA became the sole shareholder of  Eni Croatia B.V. and subsequently the 100% owner of Croatia's offshore areas Northern Adriatic and Marica.

The deal will immediately increase INA’s daily gas production by around 10% and represents another important step towards achieving reserves replacement.

Gas produced in the Northern Adriatic concession area will be directed towards the Croatian supply system, increasing security of domestic market gas supply while the gas produced in the Marica area will continue to be transported to Italy, under a gas sales contract signed by INA and Eni.

This will also allow INA to carry out further investment in the Northern Adriatic and Marica areas.

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