August the 1st, 2025 – A well known British energy company is investing a massive 50 million euros in a Croatian gas field. More details have been revealed about the company in question and when it’s all set to begin.
As Poslovni Dnevnik writes, the British energy company Energean has made a final investment decision to develop the Croatian “Irena” gas field, located in the northern Adriatic. This decision, as reported by Reuters, marks the beginning of the implementation of a project that will further strengthen the energy infrastructure in the entire region.
The Irena gas field is located within the so-called Izabela concession area, a zone for the development of offshore gas fields. The operator in this area is the company Edina, which is jointly owned by Energean and the Croatian oil and gas company INA-Industrija Nafte, with equal shares of 50 percent.
Despite the partnership management through Edina, Energean owns a majority working interest of 70 percent in the concession itself, as stated in an official statement from the company. According to the announced plan, the start of gas production from the Irena field is expected in the first half of 2027. Energean added that it is estimated that peak daily production will reach between 1,400 and 1,700 barrels of oil equivalent (boepd).
The total estimated capital investment in the development of the project stands at a huge 71 million euros (approximately USD 81 million). Of this amount, the aforementioned British energy company will invest 50 million euros in the Croatian gas field. This investment represents an important step in securing new gas supplies for the Croatian and European markets and confirms the strategic importance of the Northern Adriatic as a key energy region.
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