INA-Industrija nafte, d.d. and Edison International S.p.A. started the production on the Izabela field in the northern part of Adriatic Sea upon agreeing on the final outstanding issues by which all the preconditions for the beginning of the gas exploitation have been fulfilled.
Production will be divided between the partners INA and Edison in accordance with the Production Sharing Agreement. INA possesses 30% working interest in the project.
“The continuous and productive dialogue with our partner INA – said Nicola Monti, Executive Vice President of Edison E&P – has led to a solution of mutual satisfaction, which comes at a time of renewed focus on the Croatian upstream sector. The Izabela field’s start of production testifies the competences of the company in the exploration and production sector and strenghten Edison’s growth strategy in Croatia, especially at the light of the new bidding round for the exploration licenses in the Adraitic Sea”.
The field, which is located in the Northern part of Adriatic Sea, 57 km off Pula, has 1.4 billion cubic meter of estimated gas reserves and will produce 280 million cubic meter of gas per year.
The production is carried out by two unmanned platforms (Izabela North and Izabela South) in a water depth of 37 meter, while the gas processing and compression takes place in Ivana A and K platforms, which are operated by INAgip, joint venture company between INA and Eni, and connected to Izabela complex through a 26 km long pipeline.