Eni, Rockhopper Give Further Details of Croatia License Award

Further details of Croatia's recent offshore licensing round emerged Monday when Italy's Eni and junior oil firm Rockhopper Exploration confirmed that they had been awarded shares in Block 9.

Croatia announced Friday that 10 licenses had been awarded to explore for oil and gas off the country's Adriatic coast. Houston-based Marathon Oil and Austria's OMV won seven of the 10 licenses awarded, with two of the remaining three licenses going to INA – a company jointly owned by the Croatian government and Hungary's MOL.

Monday saw Eni and Rockhopper give further details of their Block 9 award. Eni will be the operator of the block, with a 60-percent share, while Rockhopper will hold the remaining 40-percent interest.

Block 9 is located in the relatively-shallow water of what Rockhopper described as the "prolific" Northern Adriatic gas province. It contains the previously discovered Ksenija accumulation along with a prospect called Klaudija.

Rockhopper said the anticipated work program consists of seismic acquisition, processing and reprocessing during the first exploration phase of three years. A well is to be drilled during the second exploration phase.

Eni and Rockhopper have until April 2, 2015 to sign a production sharing contract with the Croatian Hydrocarbon Authority.

Eni is already active in Croatia, jointly operating with INA two exploration and production licenses in the offshore Adriatic region.

The license award marks the latest move by Rockhopper to diversify its activities away from the Falkland Islands in the South Atlantic after it agreed to buy Mediterranean Oil & Gas in May 2014.

Rockhopper Chief Executive Sam Moody commented in a company statement:

"We are delighted to be partnering with the leading international producer in Croatia as we build our position in our second core area of the greater Mediterranean region following the acquisition of MOG. This represents an outstanding low cost opportunity to increase our acreage position in an area with proven hydrocarbons."

A former engineer, Jon is an award-winning editor who has covered the technology, engineering and energy sectors since the mid-1990s. Email Jon at jmainwaring@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
 Company: ENImore info

 - ENI: FPSO Soon Ready to Start Work at East Hub Development Project (Oct 14)
 - Mozambique Minister's Sacking Will Not Affect Gas Project Decision (Sep 30)
 - Eni: Laarich East-1 Well Onshore Tunisia Has 2,000 Bpd Capacity (Sep 19)
 Company: OMVmore info
 - Gazprom Wants More Than 25% Of OMV North Sea Assets (Sep 15)
 - Quadrant Fails to Find Hydrocarbons at Driftwood-1 Well in Carnarvon Basin (Aug 16)
 - OMV Intensifies Investment, Cost Cuts As Oil Price Weighs (Aug 10)
 Company: MOL Hungarian Oil & Gasmore info
 - MOL Makes Oil, Gas Discoveries in Pakistan (Jul 13)
 - MOL Finds Condensate, Gas at Makori East-05 Well in Pakistan's TAL Block (Jul 12)
 - MOL Group Makes Pakistan Gas Discovery (Jun 24)
 Company: INAmore info
 - Eni, Rockhopper Give Further Details of Croatia License Award (Jan 5)
 - Croatian Court to Try MOL Chairman in Absentia (Jun 10)
 - INA to Begin Gas Production in Northern Croatia (Jan 14)
 Company: Rockhopper Explorationmore info
 - ERCE: Sea Lion Complex Could Hold 1.7B Barrels of Oil (May 17)
 - Beach Energy Updates on Sale of its Egyptian Subsidiary to Rockhopper (Apr 18)
 - Subsea 7, National Oilwell Varco Secure Sea Lion FEED Contracts (Feb 11)
 Company: Marathon Oil Corp.more info
 - E&P Companies Target Potential of STACK, SCOOP Plays (Aug 25)
 - Marathon Oil Corp. Shakes Up Its Senior Leadership (Aug 22)
 - Marathon Oil Quarterly Loss Shrinks On International Output (Aug 3)

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Manager, Oil and Gas
Expertise: Petroleum Engineering|Project Management
Location: West Chicago, IL
Business Development Manager
Expertise: Business Development|Construction Manager
Location: Portland, OR
Business Development Manager
Expertise: Business Development|Construction Manager
Location: Denver, CO
search for more jobs

Brent Crude Oil : $51.46/BBL 0.61%
Light Crude Oil : $50.52/BBL 0.64%
Natural Gas : $2.83/MMBtu 5.35%
Updated in last 24 hours