ZAGREB, 26 Dec (Hina) - INA has discovered a significant new gas deposit in the Drava-03 exploration area, with an initial estimate of the discovered volume ranging between 120 and 150 million cubic metres, the company said.

The gas was discovered at the Obradovci-5 well in Virovitica-Podravina County.

"During the testing of the deepest interval, a daily gas flow of approximately 144,000 cubic metres was achieved, while the B4 interval yielded a daily flow of about 98,000 cubic metres," said INA.

The final depth of the well is 1,817 meters, and it was drilled in September. Following an analysis of the commercial viability of the discovery, the process of obtaining an exploitation field licence and constructing a connecting pipeline will follow. INA plans to bring the well into production by the end of 2028.

Josip Bubnić, executive director of exploration and production of oil and gas at INA, said that given the importance of the discovery and the role of domestic gas production in ensuring supply security for citizens and businesses, INA is working with the Ministry of Economy to expedite the permit issuance processes.

"This discovery will not only significantly enhance Croatia's gas supply security, but the state and the local community will also benefit from additional revenue through production sharing, collection of mining royalties, and other fees that INA will pay as the investor," Bubnić stated.

Following the gas discovery at the Veliki Rastovac-1 well, this is the second gas discovery in the Drava-03 exploration block during the exploration activities in the Pannonian Basin, which INA initiated four years ago.

Over the past five years, INA has invested €450 million in oil and gas exploration and production, and the exploration of Drava-03 will conclude with the drilling of the fifth exploration well, Veliki Rastovac-2 Duboka, in January.