INA should urgently renew its hydrocarbons reserves – Croatia, 17 March 2017

According to the experts from the Scientific Council for oil and gas of the Croatian Academy of Sciences and Arts (HAZU), oil company INA urgently needs to renew its hydrocarbons reserves, as further decline would mean the extinction of oil business in Croatia and full dependence on imports.
In addition, INA should complete the process of modernization of its refineries, which could return the investment by 2030 and start creating profit. Total decline in Croatian oil production in the past ten years is about 30 %, and about 22 % regarding natural gas production. According to INA’s data from 2015, current oil reserves in Croatia will expire in 16 years, while gas reserves will be depleted in just nine years.

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