Croatia hands out four new oil exploration licenses

The Croatian government has awarded four licences for oil and gas exploration and exploitation on six blocks in its north-eastern region.

“This was the largest campaign to be launched for the exploration and exploitation of hydrocarbons in Croatia in the last 20 years,” said the country’s minister of environmental protection and energy, Tomislav Ćorić.

Two licences were awarded to Croatia’s largest energy group, INA, jointly owned by Hungary’s MOL and the Croatian government, and a smaller local firm Crodux Derivati. Canada’s Vermilion Energy and US Aspect Croatia received one license each.